August 17 (SeeNews) - The European Bank for Reconstruction and Development (EBRD) plans to lend 30 million euro ($35.6 million) to the Kosovo government to ensure the provision of essential infrastructure services as the country faces the impact of the coronavirus pandemic, it said on Monday.
A first tranche of up to 14 million euro will be provided to the government for on-lending to vital infrastructure providers for immediate emergency support, while a second tranche of up to 16 million euro will finance further support until revenues and collections have been restored, the EBRD said in a statement.
The EBRD will also support the Kosovo government in developing a state ownership policy for publicly-owned enterprises and improving corporate governance, it said.
"With today’s loan we are demonstrating our determination to address a challenge like no other. What is happening today has no parallels in what we have seen in our economies in modern times. We must all pull together to respond to the threat to public health and to mend the economy," Nandita Parshad, EBRD Managing Director, Sustainable Infrastructure Group, said in the statement.
With this loan, the EBRD has now invested more than 500 million euro in Kosovo through 75 projects since it began operations there in 2012.
($ = 0.8421 euro)