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Thursday, September 21, 2023

EU gives 24 million euros to support Kosovo

An amount of 24.05 million euros of budget support assistance funds provided by the European Commission have been paid to the Kosovo Treasury in December 2020. These funds are part of the EU’s overall assistance to mitigate the impact of COVID-19, to support the modernisation of Kosovo’s public administration and to strengthen public finance management.

The EU Office in Kosovo said in a statement that the EU will continue to support Kosovo with much-needed funding to mitigate the socio-economic impact of the COVID-19 crisis on the Kosovo population and businesses.

Commissioner for Neighbourhood and Enlargement Olivér Várhelyi said: “Kosovo and the EU are both still in the midst of the pandemic. Through these budget support payments we assist Kosovo to take the necessary actions to fight the pandemic: help stabilise public finances, support small businesses, and vulnerable people to cope with the financial hardships they are faced with in this difficult situation. We stand by the people of Kosovo.”

Budget support is a form of EU support, where the EU rewards progress governments make in implementing its own strategies and in achieving targets it has put for itself. The previous EU payments related to public administration and public finance management reforms amounting to €11.5 million and 9.97 million euros were disbursed in December 2019 and July 2020 respectively.

According to the EU Office press release the government has continued to pursue its public finance management and public administration reform agenda but needs to reaffirm its commitment to the overall objectives and principles of this reform agenda, ensure that the pace of implementation increases in the future and ensure that foreseen economic measures and investments do not undermine macro-economic stability in Kosovo

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