Washington, D.C., (Oct. 01, 2021) – A senior delegation from the Millennium Challenge Corporation (MCC) departed Pristina, Kosovo today following a three-day trip from Sept. 28-30 that advanced the development of the MCC-Kosovo Compact.
MCC’s Managing Director for Europe, Asia, Pacific and Latin America, Caroline Nguyen, and Deputy Vice President for Infrastructure, Environment and Private Sector, Jonathan Richart, conducted a series of productive meetings with the Government of Kosovo and international donors, helping to refine the scope of potential compact projects.
“Country ownership is a cornerstone of MCC’s model, meaning compact investments are developed and led by partner countries,” said Nguyen. “The Government of Kosovo has prioritized three potential areas for investment – energy storage, electricity network strengthening, and gender-inclusive workforce development and capacity building – taking an important next step in the compact development process.”
Since Kosovo’s selection for a compact in 2018, MCC has been working closely with the government to identify and develop infrastructure investments that will help Kosovo achieve sustainable and inclusive economic growth. A key barrier to growth and job creation in Kosovo has been instability in the energy sector, creating high costs for firms – as much as $400 million per year. Frequent power outages disrupt manufacturing and other income-generating activities, imposing costs to businesses and households and hindering private sector investments.
“The MCC-Kosovo Compact will help modernize the country’s energy sector and create a business-enabling landscape,” added Nguyen. “With the progress made on this trip, MCC and the Government of Kosovo can now take steps towards finalizing the MCC-Kosovo Compact so we can move toward signing and program implementation.”
MCC’s strong partnership with the people of Kosovo dates back to 2016 when Kosovo was first selected as eligible to develop a compact. The Government of Kosovo then signed a $49 million threshold grant in 2017 that is helping to build institutional capacity and develop two investment projects – the Reliable Energy Landscape Project and the Transparent and Accountable Governance Project.
The Millennium Challenge Corporation is an independent U.S. Government agency working to reduce global poverty through economic growth. Created in 2004, MCC provides time-limited grants and assistance to countries that meet rigorous standards for good governance, fighting corruption and respecting democratic rights.