Kosovo signs USD 20mn loan agreement with OPEC's Fund for International Development

By bne IntelliNews September 6, 2013

The OPEC Fund for International Development (OFID) said it has signed a USD 20mn loan agreement with Kosovo for the expansion of the Pristina-Mitrovica motorway located in the northern part of the country.

The agreement was signed by Kosovo's finance minister Besim Beqaj and OFID's director general Suleiman Al-Herbish on Sep 5 in OFID's headquarters in Vienna, the lender said in a statement.

The infrastructure project that will benefit from the loan will upgrade a 26.7km road that serves the cities of Mitrovica, Vushtrri and the capital Pristina - which is an area populated by around 400,000 inhabitants, the statement read. The improved road will significantly reduce travel time, thus facilitating trade and production, and easing the local population’s access to health and education.

The project is co-financed by the government of Kosovo, as well as by the Islamic Development Bank (IDB) and the Saudi Fund for Development. The IDB agreed in May to give Kosovo USD 20mn for the upgrade of the motorway. An agreement with the Saudi Fund for Development is expected to be signed by the end of the year, according to Kosovo's finance ministry.

Related Articles

Kosovan PM sceptical about Western Balkans common market

There would be little advantage for Kosovo to join a common market with fellow Western Balkan countries, Prime Minister Isa Mustafa wrote on his Facebook page after EU Commissioner ... more

PMs of Serbia and Kosovo clash at Western Balkan summit ceremonial dinner

Serbian Prime Minister Aleksandar Vucic reportedly confronted his Kosovan counterpart at the ceremonial dinner during the Western Balkan Summit, over Pristina’s decision to re-register ... more

IMF to disburse €100mn to Kosovo

The International Monetary Fund (IMF) said that its executive board completed the second and third reviews of ... more

Register here to continue reading this article and 2 more for free or purchase 12 months full website access including the bne Magazine for just $119/year.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

To continue viewing our content you need to complete the registration process.

Please look for an email that was sent to with the subject line "Confirmation bne IntelliNews access". This email will have instructions on how to complete registration process. Please check in your "Junk" folder in case this communication was misdirected in your email system.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

If you have any questions please contact us at sales@intellinews.com

Subscribe to bne IntelliNews website and magazine

Subscribe to bne IntelliNews website and monthly magazine, the leading source of business, economic and financial news and commentary in emerging markets.

Your subscription includes:
  • Full access to the bne content daily news and features on the website
  • Newsletters direct to your mailbox
  • Print and digital subscription to the monthly bne magazine
  • Digital subscription to the weekly bne newspaper

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

bne IntelliNews
$119 per year

All prices are in US dollars net of applicable taxes.

If you have any questions please contact us at sales@intellinews.com

Register for free to read bne IntelliNews Magazine. You'll receive a free digital subscription.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

IntelliNews Pro offers daily news updates delivered to your inbox and in-depth data reports.
Get the emerging markets newswire that financial professionals trust.

"No day starts for my team without IntelliNews Pro" — UBS

Thank-you for requesting an IntelliNews Pro trial. Our team will be in contact with you shortly.

Dismiss