IFC Helps Kosovo Improve Business Environment, Increase Investment
Pristina, Kosovo, May 15, 2013
— IFC, a member of the World Bank Group, has agreed to work with Kosovo to ease the administrative burden and improve the country’s business environment to attract foreign and domestic investors.
“Improving the business environment by simplifying administrative procedures and providing better services to investors will help reduce the cost and risk of doing business in Kosovo,” said Jesper Kjaer, IFC Senior Manager. “Our ultimate goal is to support sustainable economic development and job creation in Kosovo.“
Kusari Lila, Kosovo’s Deputy Prime Minister for Economic Development, said: “IFC will help the government of Kosovo reduce the administrative burden for businesses and support reforms that will boost investment. We want to increase transparency between businesses and government and stimulate investor interest in Kosovo.”
IFC’s Investment Climate Project in Kosovo will support the establishment of a public e-registry of licenses and permits for businesses and help the government develop an investment reform map to identify priority areas for reforms.
Kosovo became an IFC member and shareholder in 2009. Today, IFC’s portfolio in Kosovo is $15.7 million, with investments in manufacturing and finance. IFC’s advisory services in Kosovo aim to improve the investment climate, boost small company performance and increase private sector participation in infrastructure projects.
IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector. We help developing countries achieve sustainable growth by financing investment, mobilizing capital in international financial markets, and providing advisory services to businesses and governments. In FY12, our investments reached an all-time high of more than $20 billion, leveraging the power of the private sector to create jobs, spark innovation, and tackle the world’s most pressing development challenges. For more information, visit