The Executive Board of the Millennium Challenge Corporation (MCC) has approved the Kosovo Compact Program, worth 236.7 million dollars, announced the Minister of Economy of the Government of Kosovo, Artane Rizvanolli.

Through a post on her Facebook account, Minister Rizvanolli called it “wonderful news”, emphasizing that this is “the biggest investment in the energy sector of Kosovo, as well as a cornerstone that enables our energy transition”.

The Ministry of Economy of the Government of Kosovo, through a press release, announced that the Kosovo Compact Project was approved on June 30 and that it “opened the way for the signing and finalization of the ratification processes in the Assembly of the Republic of Kosovo and the decree by the President of the Republic of Kosovo”.

“From this financing, 200 million dollars will come in the form of a grant from the United States of America, through the MCC, about 35 million dollars will be a contribution from the Government of Kosovo, while 2 million will be funds from the American Institution of Catalyst for Development (ACFD)”, it is stated in the communique of the Ministry of Economy.

According to this ministry, the program will include three projects: Energy reserves and arbitration (batteries with a capacity of 170 MW, providing a reserve of 340 MWh); Workforce development and women’s involvement in the energy sector; as well as the US institution’s Development Catalyst Project.

Investments of the Compact Program will be the property of Kosovo, and mark one of the most important collaborations between the Republic of Kosovo and the United States of America.

The Millennium Challenge Corporation Executive Board is chaired by Antony Blinken, US Secretary of State.