US ready to finance Nis-Pristina highway

By bne IntelliNews September 16, 2020

Following the agreement signed in Washington by Kosovo and Serbia on September 4, letters of interest were signed on September 15 to help finance the construction of the "Peace Highway", which is one of the points of the economic agreement signed in White House.

The letters were signed by the chief executive of the International Development Finance Corporation (DFC) in the US, Adam Boehler, and the chairman of the Export-Import Bank (EXIM), Kimberly Reed, to finance the project that will link the Serbian town of Nis and with Kosovo’s capital Pristina.

Boehler said that this project will be a symbol of the new relationship between Kosovo and Serbia.

"The Peace Highway will guide economic development and regional integration by connecting Nis and Pristina. It will also serve as a powerful symbol of the new, transformative relationship between these neighbouring countries," Boehler told the Telegraph.

He also added that "DFC, in partnership with EXIM, is committed to advancing this peace process by investing in projects that create jobs and bring sustainable economic benefits to both countries."

It was also announced that these two institutions plan to send delegations to Belgrade and Pristina at the end of this month to advance the work on the Peace Highway and other projects.

DFC was formed on December 20, 2019 by merging the Overseas Private Investment Corporation (OPIC) with the Development Credit Authority of the United States Agency for International Development (USAID), as well as with several smaller offices and funds. The DFC's lending capacity is used to provide loans, loan guarantees, and insurance for development projects in lower-income countries undertaken by US businesses.

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