World Bank grants US$12.5 million for Kosovo projects

Associated Press, Jul 27, 2005 11:22 AM

PRISTINA, Serbia-Montenegro-U.N. authorities in Kosovo signed an agreement Wednesday with the World Bank allocating US$12.5 million (€10.4 million) for two projects aimed at improving the province's business environment and the use of its public resources.

One project aims to assist an investment promotion agency and dozens of municipal public record offices, and the other provides support for the budgetary process and development of public employment policies, a U.N. statement said.

The deal was signed by the head of the U.N.'s economy sector, Joachim Ruecker, and the bank's official in Kosovo, Kanthan Shankar, U.N. spokeswoman Mechthild Henneke said.

"The two World Bank-financed projects aim to create a conducive environment for private sector participation and strengthen Kosovo's ability to use public resources more effectively, efficiently and transparently," Shankar said in a statement.

The projects will be implemented mainly by province's Ministry of Trade and Industry and the Ministry of Finance and Economy.

Kosovo has been administered by a U.N. mission since mid-1999.