July 28 (SeeNews) - US foreign assistance agency Millennium Challenge Corporation (MCC) said it has signed a $202 million (197.8 million euro) agreement with Kosovo for a grant programme aimed at helping the country improve its energy sector.
The contract includes an additional $34 million contribution from Kosovo's government, MCC said in a press release on Wednesday.
The grant will support a project for energy storage and another one for just and equitable transition acceleration in Kosovo. It will also fund a project aimed at promoting private investments in Kosovo's energy sector, to be conducted in collaboration with the U.S. International Development Finance Corporation, MCC added.
MCC, which was created in 2004 with the objective to reduce global poverty through economic growth, provides time-limited grants and assistance to poor countries.
($ = 0.9793 euro)