PRISTINA (Kosovo), April 10 (SeeNews) – Kosovo’s finance ministry said it has signed a 9.4 million euro ($10.2 million) grant agreement with the International Development Association (IDA), part of the the World Bank Group, to finance energy efficiency projects.
The agreement aims to improve the efficient use of energy in public buildings as well as advance policies in the renewable energy sector, the finance ministry said in a press release on Thursday.
The deal complements a $2.8 million grant signed in February, the ministry added.
Kosovo is relying mainly on lignite-fired power plants to meet its energy needs. Its citizens suffer power shortages due to insufficient output, ageing grids and thefts.
Last month, London-listed energy group ContourGlobal said it will not proceed with the planned construction of a 500 MW coal-fired power plant in Kosovo.
IDA, one of the largest sources of assistance for the world’s 76 poorest countries, provides grants to countries at risk of debt distress, as well as credits with a zero or very low interest charge and repayments stretched over 30 to 38 years, according to information posted on the association's website.
($=0.92025 euro)