International Financial Institutions Draw Back From T Finance C ) New Kosovo

This statement by Minister Luka has come after the news that the European Bank for Building and Development ( BELZH) behind the World Bank has confirmed that it is not considering the support of the Reova thermal power plant.

The moment the World Bank has withdrawn, international financial institutions are attracted by the idea of financing coal projects. On the other hand, the European Bank for Reconstruction and Development normally has been considering the case for not financing coal projects, so as such, it turns out that this project is also an ambush in the beginning (which is financed) and then we've seen that even the EBRD doesn't support it. The main challenge has been the World Bank that the European Bank is already old news”, Luka has declared for callo.com.

World Bank Group President Jim Jong Kim had declared that the World Bank would not support the construction of the “New Kosovo thermal power plant in Kosovo.

“Yes, we have a strong attitude not to move forward with coal thermal power plants because we've been asked by our biologists to go with the option at the lowest cost and renewable energy now comes down the coal cost. So without any dilemma, we're not doing this”, Kim has declared.

Kim unveiled the World Bank's position about the 1.3 billion-euro thermal power plant when asked by Wisar Azem, executive director of “Balkan Green Foundation” at the World Bank Group's annual meetings and International Monetary Fund, which took place in October in Bali, Indonesia.

Diana Berisha from the Consortium of the Kosovo Civil Society for Sustainable Development (KOSID) has told KALLXO.com that the battle against construction of the New Kosovo thermal power plant will continue further.

“As COSID, we will continue our battle. If we have managed to convince the World Bank, the world's most powerful financial institution for financing real development projects, I am sure that our battles will only be strengthened more and our capacities as the consortium of nongovernmental organisations are already almost strong, our expertise is very strong that the entire ministry and all the government that exists in Kosovo”, Berisha has said.

The signing of the 1.3 billion-euro agreement between the Government of Kosovo and Joseph Brandt, executive director of the US company éContour Globalʹ for the construction of TC “New Kosovo” is made on December 20, 2017.

In June of this year, the US company Contour GlobalH has opened tenders for the construction of the third thermal power plant in Kosovo called New Kosovo.

Four consortiums have already entered the race for construction of the New Kosovo thermal power plant.

Pre-qualified contractors for engineering, design, construction and maintenance for the “New Kosovo thermal power plant project are: 1. ; CMEC; 2 A consortium consisting of ENKA, Mitsubishi Hitaki Power Systems and Técnicas Reunidas; 3. A consortium of General Electric companies; and 4. Hyundai.

After announcing the process of initial selection in June, six applications were accepted and praised by “Contour Global”. The results and decision of KOCour GlobalH has been recognized by the Government of Kosovo.

During the pre-qualification phase, six companies have applied, but after the evaluation process, it has been concluded that four of these are pre-qualified, which have met the high technical and financial criteria, as well as provided funding papers from financial institutions.

It is projected that in 2019 the cornerstone of the “New Kosovo thermal power plant will be laid.