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World Bank Inks Assistance Grant - UN Finance - Global Policy Forum World Bank Inks Assistance Grant
World Bank Release
March 21, 2000
Looking to shore up the province's economic reform program, the World Bank and the UN Interim Administration in Kosovo (UNMIK) on Monday signed a $5 million economic assistance grant for Kosovo.
The grant - to be disbursed from the bank's fiscal 2000 Kosovo trust fund -- will cover salary payments and other UNMIK budgetary expenditures. UNMIK runs a number of programs aimed at restoring public services in the aftermath of conflict, and the grant will help ensure effective budget management and build the foundation for Kosovo's banking sector.
The grant will help fund creation of an independent, transparent budgetary agency within the interim government of Kosovo, and establishment of a central banking and payments authority with licensing and supervision capability.
In order to ensure the sustainability of these new institutions, UNMIK consulted local political leaders on their creation, and local experts will play a prominent part in their management. The grant will be disbursed in a single installment.
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