The outgoing Prime Minister of Kosovo, Avdullah Hoti stated on Monday that the Investment Incentive Agreement with the U.S. International Development Finance Corporation (DFC), is the best possibility that Kosovo had on economic development since 1999.
Hoti made this statement during a meeting with representatives of businesses.
Direct financing in the form of loans, which can be obtained by both the government and financial businesses, investing in companies’ equity, guaranteeing investments, securing investment by covering losses related to political risk, re-insuring the project, financing various studies of feasibility are some of the instruments that DFC provides for businesses, the public broadcaster RTK reports.
Therefore, Hoti says it has an extraordinary possibility for economic development.
“The total amount for these initial projects goes to $ 1 billion, with a maturity of 25 years. And, I believe that this is the best opportunity that Kosovo has had from 1999 onwards, to open a window of economic development. Of course, there are some criteria to take into account these projects from DFC […] The first is that the project should affect economic growth,” Hoti said.
The Investment Incentive Agreement with the DFC entered into force on Friday, after it was signed in December.
Kosovo’s Government empathized that Kosovo is the first country in the Western Balkans to sign this IIA agreement with the DFC.
Launched in 2020, DFC partners with the private sector to finance solutions to the most critical challenges facing the developing world today. It invests across sectors including energy, healthcare, critical infrastructure, and technology.
