PRISTINA (Kosovo), February 7 (SeeNews) – Kosovo’s finance ministry said on Thursday it signed a 14.6 million euro ($16.6 million) loan agreement with the World Bank to finance improvements in cadastre data and services.
The agreement aims to increase the transparency and quality of land administration and quality of data and geospatial services, finance minister Bedri Hamza said in a statement, after signing the agreement with World Bank country manager for Kosovo, Marco Mantovanelli.
“Securing property rights is critical for improving Kosovo’s growth and development, as well-defined rights are the cornerstone of a vibrant market economy,” Mantovanelli said. “This project will help increase access to finance and reduce informality in the economy, positively impacting credit markets and the commercial banking sector which, in turn, could result in more investment and more jobs.”
($=0.87825 euro)