The EU provides 24 million euros to support Kosovo

The European Union approved the amount of  more than 24 million  euros to be poured into the Kosovo Treasury to help with reforms and advancing the government’s agenda.

The funds are part of EU assistance to mitigate the impact of Covid-19, in order to support Kosovo’s public administration and the good management of public finances.

Commissioner of Neighborhood and Enlargement Olivér Várhelyi said that both Kosovo and the EU are in the midst of a pandemic. These funds will help Kosovo to stabilize the socio-economic problems caused by the Covid 19 crisis.

“Through these budget support payments, we can help Kosovo cope with the financial hardships in this difficult situation. The EU will continue to support Kosovo in order to alleviate the crisis in economic, social terms, assistance to citizens, stabilization of public finances, support for small local businesses “, said Varhelyi.

The first € 5 million EU assistance to Kosovo in fighting the Covid-19 pandemic was provided on 30 April 2020.

Also in October, the European Commission (EC) approved 138 million euros in assistance to Kosovo through the IPA 2019 and IPA 2020 programs, as well as the respective financing agreements signed by both parties.

50 million euros of this amount are programmed to address the socio-economic consequences.

On Tuesday, the Governor of the Central Bank of the Republic of Kosovo, Fehmi Mehmeti, said that the economy of Kosovo in 2020 is expected to decline by 7.2% in real terms, which represents the lowest decline of the economy in these 20 years.