CAO: KEDS Privatization in full compliance with international standards
Prishtina, 15 April 2013 – The World Bank Ombudsman (Compliance Advisor Ombudsman – CAO), assessed that IFC conduct and KEDS privatization were carried out in full compliance with international standards.
This assessment of the Appeals Advisor and the World Bank Ombudsman from New York, comes after the diligent review of complains submitted by a Kosovar group of civil society representatives regarding the privatization of NewCo Kosovo Electricity Distribution and Supply (KEDS), and concludes that IFC has conducted the project in compliance with the applicable procedures and international standards.
The process of CAO assessment and the case are now considered closed.
This assessment confirms that privatization processes lead by the Government of Republic of Kosovo is founded on local laws and the highest international standards, which confirms once again the determination of the Government to fully respect legality and transparency in the process of structural transformations in the country’s economy.
IFC is contracted by the Government of Kosovo as the Transaction Advisor for the process of KEDS privatization, since November 2009, namely since the inception of the KEDS privatization process.
This process is expected to conclude in May of this year, when KEDS will be transferred to the winning bidder – Kosovo Calik Limak Energy. IFC is expected to remain engaged in the post-privatization process, for a term of less than one year.
The Government of Kosovo is highly appreciative of the civil society engagement in the process, and considers its contribution in the advancement of the privatization process positive.