4 hours agoUS agreement Kosovo creates jobs
Periskopi(5 years ago)
(5 years ago)The agreement to promote investments between the United States of America and Kosovo, which has entered into force on 3 February, will enable construction of the Pristina highway Merdare and the Belgrade railway line Pristina, Kosovo Minister-designate Arban Abashi said, adding that countries [...] will also be created.
The agreement to promote investments between the United States of America and Kosovo, which has entered into force on 3 February, will enable construction of the Pristina highway Merdare and the Belgrade railway line Pristina, Kosovo Minister in charge of Infrastructure Arban Abrashi said, adding that new jobs will also be created.
American investments stem from the meeting for economic normalisation between Kosovo and Serbia, where two documents were signed, on September 4th at the White House in Washington, in the presence of US President Donald Trump.
US International Finance Development Corporation investment, known in February, provided DFC, and other American financial organizations in these two countries. On December 31st of last year, however, this corporation, to bring the financial gamma to Kosovo, has signed an agreement with US Ambassador to Kosovo Philip Costet, and incumbent Prime Minister Avdullah Hoti.
The International Finance Development Corporation (DFC), on Thursday (February 4th), has announced that the agreement on boosting investments it has reached with Kosovo has entered into force.
The acting minister, Abrashi, says that in addition to building the highway and railway, the entry into force of this agreement is of particular importance because private sector will be supported through financial products.
“Options for financing of businesses and projects through access to DFC funds will be an excellent incentive and opportunity for Kosovo entrepreneurs, which will affect the country's overall development and the creation of new jobs”, he said.
The Pristina highway Merdare, a 27km long, also known as the “Auttastrada Peace” is one of the projects involved in the Washington Agreement, between Kosovo and Serbia, and costs approximately 200m euros. The Pristina railway segment Merdare, on the other hand, totals 150m euros.
The DFC is the American Development Bank, which cooperates with the private sector by funding solutions to the most critical challenges facing the developing world.
The DFC invests in sectors including energy, health care, critical infrastructure and technology. And so, The DFC provides funding for small businesses and women entrepreneurs, with the aim of creating jobs in emerging markets.
Arian Zeka, executive director of the American Economics House of Kosovo, said that the launch of implementation of the DFC agreement would help the private sector have access to finance.
These are financial products, like any other financial institution given to businesses, in this case is given to businesses to invest in Kosovo or to expand their investments in Kosovo and the region”, Zeka said.
He stressed that this agreement, positive effects, will also have on foreign investors, who will more easily decide to extend their capital to Kosovo.
“After that yes, since, like other financial institutions, as is the case with the European Bank for Reconstruction and Development, investors can enjoy alternative access to finance”, he stressed.
This agreement, Zeka added, includes debt financing, equity investments, political risk insurance and grants in technical assistance.
On December 31st, DFC deputy chief, at the same time manager for the Western Balkans, John Jovanovic, said the DFC sees <x0 potential to help mobilise investments that create jobs and support development for the people of Kosovo”.
As part of the Washington Agreement, The DFC has opened the regional office in Belgrade.
