Prishtina, 30.09.2021 – The Prime Minister of the Republic of Kosovo, Albin Kurti, the Minister of Economy, Artane Rizvanolli and the Minister of Finance, Labour and Transfers, Hekuran Murati held discussions with the Managing Director of Millennium Challenge Corporation (MCC) for Europe, Asia, the Pacific and Latin America, Caroline Nguyen, and Managing Director for Kosovo, Sarah Olmstead, about designing the Compact Program.

 

Given the strict timeline for developing and signing the Compact Program, and that the Government of Kosovo requires further information to be able to make a well-informed decision to build the gas infrastructure, the Government of Kosovo has decided to use the Compact Program for investments in projects that are more secure, but also contribute significantly to Kosovo’s energy transition.

 

Following the discussions, the Government of Kosovo and the MCC team signed an Aide Memoire to pave the way for the implementation of the program and the partnership in building a better future for Kosovars.

 

MCC and the Government of Kosovo are working together towards an energy landscape that enables business development and a fair energy transition for Kosovo.

 

Aide Memoire signed by Minister Rizvanolli and Director Nguyen aims to deepen the development of the proposed Compact Program between the Government of Kosovo and MCC.

 

This is a result of the joint work between the Government of Kosovo and MCC to identify and develop infrastructure investments that will help Kosovo achieve sustainable and inclusive economic growth.

 

While the Ministry of Economy in Kosovo has begun work on drafting the Kosovo Energy Transition, a key barrier to private sector development and job creation in Kosovo remains the instability of the energy sector that creates high costs for firms – up to € 350 per year.

 

To address this economic hurdle, the Government of Kosovo, together with MCC, have identified a space for potential compact investments included in the Aide Memoire, which focus on energy storage, strengthening the electricity grid and developing a gender-inclusive workforce and capacity building.