29.4 C
May 28, 2023
Egypt Bulletin

OPEC Fund for International Development lends $40 million to Kosovo

The OPEC Fund for International Development (OFID) has extended a $40 million loan to Kosovo to support the Public Finances and Economic Growth Programme. In the energy and waste management sectors, the comprehensive plan will enhance fiscal transparency, promote private sector development, and facilitate environmental reforms.

OPEC Fund for International Development lends $40 million to KosovoThe program was developed in collaboration with the World Bank, which will also provide $56.4 million equivalent for its implementation. OPEC Fund Director-General Dr. Abdulhamid Alkhalifa signed a loan agreement with Kosovo’s Minister of Finance, Labor and Transfers, Hekuran Murati, at a ceremony held in Pristina.

“We are pleased to partner with the government of Kosovo and the World Bank to support this ambitious program addressing key development gaps and accelerating poverty reduction efforts. The newly developed program will support the post-COVID-19 recovery, strengthen private sector development and promote the transition to a green economy in full alignment with Kosovo’s long-term development targets,” Alkhalifa said.

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