World Bank Vice President for Europe and Central Asia Cyril Muller completed his first visit to Kosovo today, which focused on learning first-hand about Kosovo’s growth opportunities and development challenges. He participated in the discussions related to the Systematic Country Diagnostic for Kosovo, and the recently adopted National Development Strategy for the 2016-2021 period.
“The World Bank Group is committed to continue helping Kosovo maintain macroeconomic stability, improve infrastructure networks and business environment, improve stewardship of its natural resources, and build human capital, with the aim of achieving its long term goal of European Union accession and building a prosperous country,” said Cyril Muller.
During his visit, Muller met with the Prime Minister of the Republic of Kosovo Isa Mustafa, with other Government Ministers, and with diplomats and development partners. He also visited the Kosovo A power plant and associated mines, in order to understand the technical, environmental and social challenges in overcoming Kosovo’s energy supply gap.
“Support to address Kosovo’s energy shortages is one element of the World Bank’s broader strategy to support economic development, as well as improve competitiveness and environmental management,” said Muller. “In working on energy, it is very important for Kosovo’s own policies to adhere to the best environmental and social practices,” he added.
The World Bank’s current program in Kosovo is anchored in the Country Partnership Strategy 2012–16, which, in support of Kosovo’s EU integration objective, helps the country to accelerate broad-based economic growth and employment generation, and improve environmental management. Today, the World Bank active lending portfolio amounts to US$131 million of International Development Association (IDA) credits across eight projects in the areas of energy, education, public sector reform, cadaster, agriculture, health, and financial sector. The committed investment portfolio in Kosovo of the International Finance Corporation (IFC), a member of the World Bank Group, is US$15.7 million.
Since 1999, the World Bank has provided and/or managed roughly US$400 million through more than 30 operations in Kosovo, including grant-financed trust funds. IFC’s cumulative investments in Kosovo total US$390 million, which includes funds mobilized from IFC’s partners.
