March 19 (SeeNews) - The World Bank said it has approved a 90.3 million euro ($98 million) soft loan to the government of Kosovo to support its efforts in fiscal transparency, private sector development and environmental sustainability.
The financing targets government programmes aimed at enhancing domestic revenue mobilization, public finance management, and investment climate, as well as energy efficiency and renewable energy generation, the World Bank said in a press release on Monday.
Repayment of the loan, channelled through the World Bank’s poverty alleviation arm International Development Association (IDA), spans over a 12 year-period, including a 6-year relief period, with no interest or service charge.
The government of Kosovo and the World Bank will proceed to sign a project financing agreement, subject to parliamentary approval.
($=0.922 euro)