Two deal signed worth 96m euros with World Bank

The agreements include the 50m-euro Financial Sector Development Project (FSDP), as well as the Western Balkans Trade and Transport Relief Project 2.0 (TTFP 2.0), which consists of loans of 35m euros and grants of 12m euros. These projects are intended to support structural reforms and strategic investments in line with European Union standards.

The Financial Sector Development Project will support the establishment and functioning of the Development Bank, capitalisation of key financial institutions, expanding credit guarantee instruments for businesses, as well as developing modern payment infrastructure through the rapid payment system. Meanwhile, the Trade and Transport Relief Project aims at improving infrastructure and procedures at border points, digitising trade processes and increasing market competitiveness, further drawing the country closer to European networks and standards”, the communiqué says.

Finance Minister Iron Murati stressed that these agreements constitute important steps towards strengthening financial stability and the country's economic development.

“They improve access to finance for businesses and increase trade efficiency, directly contributing to modernising our economy”, he said.

Meanwhile, Xiaoqing Yu, World Bank representative, thanked Minister Murati for effective co-operation, voiced optimism about the timely implementation of projects and reaffirmed the World Bank's commitment to deepening co-operation in future initiatives.