June 26, 2008

Kosovo Government Grants Loan for Energy System Renovation

Text of report in English by Pristina-based independent internet news agency KosovaLive

Prishtina [Pristina], 25 Jun (KosovaLive) - The Ministry of Economy and Finances (MEF) and the Kosova [Kosovo] Energy Corporation (KEK) signed a financial agreement worth 84.4 million euros, which will be allocated to the KEK in a form of loans. This loan will be used for the renovation of the energy system of Kosova.

The first loan of 9.4 million euros will be used for the renovation n of Unit A5 of the Kosova A Power Plant, which will increase the energy supply for the winter season.

Whereas, the second loan of 75 million euros will be used for the purchase of new excavators and the renovation of some existing systems necessary for the continuance of the usage of existing mines and opening of the new lignite mine in southwestern Sibovc [Sibovac]. Such investments will provide sustainable supply with lignite for power plants as well after 2010.

Minister of Energy and Mining (MEM) Justina Pula emphasized that the signing of these agreements proves clearly the engagement of the government for keeping the promises for improving the energy system in Kosova.

She called on the consumers to pay energy bills, because according to her, this is the only way to provide sustainable development in the KEK and in Kosova's economy.

Originally published by KosovaLive website, Pristina, in English 25 Jun 08.

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