Prishtina, 09 November 2009 – A meeting of the New Kosovo Project Steering Committee was held in the premises of the Ministry of Energy and Mining (MEM), under the chairmanship of Minister of Energy, Justina Shiroka – Pula, with the participation of other Ministers of the Kosovo Government and heads of independent regulators for Mines and Energy. Topics of discussions were the developments of the New Kosovo Project.

Discussions were focused in analyzing the implementation of the project after the withdrawal of two bidders due to the deterioration of the global economic situation that has caused a financial limitation both in volume and costs of funds available for such projects. The attendees emphasized the importance of taking these factors into consideration in the following course of the transaction and for a successful closure of this project.   

After an analysis of the legal basis by legal advisors of the project, it was confirmed that the project may also continue with two bidders. It was mentioned, however, that it is essential to assess whether this is the best way and process to withdraw maximum benefits for Kosovo. Beginning of next week, on November 17, 2009, the next meeting of the Project Steering Committee will convene, with the attendance of representatives of the World Bank, USAID, European Commission, and other stakeholders of the process. Transaction advisors, after presentations of the analysis, will recommend the Steering Committee the optimal option for the project which can be successfully implemented in a shorter timeframe.

Recommendation and possible decision shall be based on the feasibility of the project in the current global economic conditions; Energy Strategy objectives 2009-2018 (recently adopted by the Kosovo Government) and maximization of benefits for Kosovo.