UNMIK/PR/838
Thursday, 3 October 2002

World Bank/IMF Endorse UNMIK Plan for Donor Meeting

PRISTINA – DSRSG for Economic Reconstruction and Development Andy Bearpark attended the World Bank/IMF Annual Meeting earlier this week in Washington, where the “Working Level Steering Group” paved the way to continued donor support and new approaches to securing financing for the Kosovo economy. The group, which is chaired by the European Commission and the World Bank comprises senior financial officials of the main donor countries, the “G8”.

The group in particular endorsed UNMIK’s plans to convene a donor meeting in Brussels in early November to discuss a medium-term (2003-2005) economic development strategy for Kosovo and assess the need for continued donor support in this context.

The group also expressed its support for efforts of gaining access to international loans and guarantees. These are necessary to finance the restructuring of Kosovo’s state enterprises and rehabilitate the ailing public utilities and transportation/communication infrastructure.

The positive results were made possible by a staff paper prepared jointly by experts from the Ministry of Finance and Economy (MFE) working in close cooperation with experts from the Central Fiscal Authority (CFA) and reflecting professional assessments of UNMIK and government experts.

Mr. Bearpark praised this collaborative effort, saying that “the MFE and CFA experts, working as a close team are now preparing the forthcoming conference in Brussels”. Its success will largely depend on the ability of the government and UNMIK to present a common and shared assessment of Kosovo’s economic situation and joint vision for its development.