The planned projects of the country in the energy sector, investments in public-private partnerships, as well as the adoption and implementation of the new Plan for financing the economic recovery and accelerated growth were the topic of the meeting that the Minister of Finance Fatmir Besimi, together with representatives of the Ministry of Finance held during the Annual Meetings of the IMF and the World Bank, with Olga ловlovskaya, Regional Director of the Multilateral Investment Guarantee Agency (MIGA) for Europe and Central Asia, and Sarves Suri, Executive Director of MIGA.

According to the Ministry of Finance, Besimi stressed at the meeting that the country has an ambitious but achievable plan for energy transition. Several projects are envisaged, such as an interconnection gas pipeline connection with the Republic of Greece, additional photovoltaic capacities, wind farms, in order to replace coal with other alternative energy sources. On that road, as he said, it is necessary to determine the priorities of the projects, their dynamics, as well as international support.

The meeting highlighted the possibility for MIGA to offer insurance for public-private partnership projects in the field of energy, as well as solutions to improve credit for financing projects that require public funding.

- MIGA is an international organization for support of foreign investments, established as part of the World Bank Group. It issues guarantees for insurance against commercial risks, such as currency transfer, expropriation, breach of contract, military and social unrest, and the like. Activities covered in the global investment insurance market are: increasing the capacity of other public and private insurance agencies against political risks through co-insurance and reinsurance, investment insurance in other countries, insurance policies by agencies, as well as services of investors who do not have access to official political risk insurance agencies, according to the Ministry.

MIGA, they add, has already issued guarantees for several investment projects in the country: guarantees of the company "Cementarnica USJE", "ProCredit Bank", "Stopanska Banka", "NLB Bank" and others.

The meeting focused on the priority goals of the Ministry of Finance, during which the Plan for financing the economic recovery and accelerated growth for the period 2022-2026 was discussed, which, among other things, offers a detailed insight into the traditional and innovative ways of financing investment projects. public and private sector.

Source: MIA