The World Bank has extended a US$31 million loan to Kosovo to help the country reduce energy consumption and fossil fuel use in public buildings and demonstrate the economic viability of corresponding investments.
Through the project, the Bank will be supporting Kosovo in implementing its comprehensive energy strategy and enhancing the policy and regulatory environment for renewable energy and energy efficiency.
The funding will allow Kosovo to develop the capacity to foster sustainable energy investments across the country. The private sector will benefit from an improved regulatory environment, which is expected to facilitate faster licensing and easier market entry for companies developing renewable sources of energy, which, in turn, will stimulate demand for goods and services from suppliers and service providers in these sectors.