WB supports competitiveness for higher job creation in Kosovo
Z.Qorraj
The World Bank Group’s Board of Executive Directors discussed the new Country Partnership Framework (CPF) for Kosovo for FY2023-2027, to support the country in accelerating its competitiveness for higher job creation and living standards.
| The new strategy for Kosovo outlines priorities for World Bank Group (WBG) engagement in the country over the next five years, which will contribute to greater public service efficiency and quality, more formal private sector jobs, and increased environmental resilience. |
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The CPF aims at delivering a comprehensive WBG program of lending operations and advisory services and analytics. The International Development Association (IDA) lending projects in the pipeline will support investments in early childhood development, health sector strengthening, greening and cleaning contaminated sites along with fiscal policy, competitiveness, and green growth reforms. The indicative resource envelope during the first three years of the CPF period amounts to US$127 million in IDA 20 financing and is provided on concessional terms, with zero or very low ilow-interestges and long repayment periods. The overall CPF program also includes a portfolio of 11 active IDA and Trust Fund-financed projects totaling US$365 million. During the CPF period, the World Bank’s private sector arm, the International Financial Corporation (IFC), will leverage conventional and innovative lending and advisory instruments to support the financial sector, build resilience, and help develop an export-oriented manufacturing sector. IFC’s committed portfolio in Kosovo stands at US$13.6 million as of March 31, 2023. MIGA will continue to provide political risk insurance to facilitate cross-border investments in strategic sectors such as the financial sector. |
