EBRD boosts investments in Kosovo from 52m to 100m euros

“We are an old partner of the region, committed to supporting the construction of an economy that allows its people, especially young people, to establish their talents and benefit from their efforts in their country. Funding the needs of the countries, but also should be a sustainable and comprehensive increase to serve their people “, Chakrabarti said in an interview for SeeNews, broadcast Albania.

In Kosovo, The EBRD is aimed at a significant increase in its investments by up to 100m euros annually over the next period, up from 52m euros in 2018.

In total, we have invested 363m euros in 63 projects in Kosovo so far. The challenges we want to address are similar to those in the wider region: boost private sector potential, strengthen integration and address the energy challenge”, Chakrabarti said.

In 2018, the international lender invested more than 1.1 billion euros in the Western Balkans through 67 projects.

Our <x0); priorities are private sector development, such as the engine of growth, employment and innovation, the connection as a concept supporting the integration of the region not only in a physical sense (infrastructural), but also through assistance for regional trade and investment, and create conditions for EU approach and transition to a green economy by addressing urgent environmental challenges and also increasing the countries' support in renewable energy sources <1x>, Chakrabarti explained.

For renewable energy, he added: “We are working closely with authorities to finalise the regulatory framework in a form that will enable pure energy investments”.

The EURZH president also said he is convinced that the annual meeting of the bank in Sarajevo in May will help boost investments throughout the region.

Besides supporting Western Balkans regional integration, B ERZH is strongly committed to its EU integration with investments, as well as with advice for economic and institutional reforms. It is also a major investor in most major transport and energy infrastructure projects that connect the region with Europe.

“We are heavily involved in investments in environmental infrastructure, such as sewage treatment or solid waste management ] another area of support for countries implementing the EU acquis”, Chakrabarti said. Besides getting EU norms as part of project standards, we also help build better institutions within our Investment Initiative and Government Initiative. Under these initiatives we promote regional integration through support of regional co-operation in the chambers of commerce or the creation of a regional investment platform through the binding of national stock exchanges”.

Commenting on the impact of the new EURZH strategy for the energy sector on bank operations in the Western Balkans ? A much coal dependent region for electricity production, Chakrabarti said the bank is set to make a strong contribution to help find sustainable solutions.

“We are aware that energy is a crucial issue in the Western Balkans, where most energy generation depends on coal and efficiency standards throughout the value chain leave a considerable space for improvement”.

The goal of the EBRD is to create an energy sector that provides clean, secure and affordable energy, Chakrabarti said, adding that even before the bank completed new investments, its renewable energy projects had already exceeded its investment in fossil fuels. The EURZH's goal is to invest 40% of its annual commitments to the green economy by 2020.