July 6 (SeeNews) - Kosovo will implement a 420 million euro ($497.6 million) package for post-Covid economic recovery, the finance ministry said.
Kosovo will allocate to the package some 190 million euro from the budget, whereas the remaining 230 million euro will be provided through borrowing, the country's finance ministry said in a statement last week.
The economic recovery package can mobilise additional 700 million euro of investments and expenditures from the budget, as well as grants, private capital and funds from the financial sector, finance minister Hekuran Murati said in the statement.
The package includes support for employment and citizens, recovery of the economy and production and investments in infrastructure and environment.
As part of the economic recovery package, Kosovo also plans to issue diaspora bonds to help the revival and sustainable economic development of the country, the statement reads.
Kosovo's economy shrank 4.14% on the year in 2020, according to a preliminary estimate by the country's statistical office.
($ = 0.8440 euro)