The Republic of Kosovo has become a donor to the World Bank's International Development Association (IDA) with a contribution of $1.4 million. This marks a significant step for Kosovo, which is also one of the 78 countries that borrow from IDA. The organization funds projects aimed at boosting economic growth, building resilience, and improving lives in low-income countries.
Kosovo has made notable progress since its independence, seeing nearly a 50% rise in per-capita income and a 35% reduction in poverty rates. Recent IDA projects in Kosovo are set to enhance trade, improve transport efficiency, and support financial stability and inclusion.
Hekuran Murati, Minister of Finance, Labour and Transfers of Kosovo, stated: "Having benefited from IDA's support on our continuing development journey, we understand firsthand the transformative impact these resources can have. We are proud to contribute to supporting other nations on their path to prosperity."
Akihiko Nishio, World Bank Vice President for Development Finance who oversees IDA, added: "Kosovo joins a global community of donors that enables IDA to provide concessional financing for development across 78 low-income and vulnerable countries. I commend Kosovo for this decision to stand in solidarity with the countries that IDA serves."
The International Development Association is replenished every three years; its most recent negotiation round concluded in December 2024. It supports various development activities such as water security, digital economy advancements, social assistance reform, early childhood education and care initiatives, health improvements, fiscal effectiveness measures, competitiveness enhancement, and green growth strategies.