Following the signing of the economic normalization agreement by Serbia and Kosovo on September 4 in Washington, D.C., U.S. International Development Finance Corporation’s (DFC) Chief Executive Officer, Adam Boehler and EXIM Bank Chairwoman, Kimberly Reed signed Letters of Interest (LOI) today with Serbia and Kosovo to help finance construction of the so-called The Peace Motorway.
This project would connect Nis and Priština and has long been a key piece of normalization talks between Serbia and Kosovo.
“The Peace Motorway will drive economic development and regional integration by connecting Niš and Priština. It will also serve as a powerful symbol of the new, transformative relationship between these neighbouring countries,” said DFC CEO, Adam Boehler and added:
“DFC, in partnership with EXIM, is committed to advancing this peace process by investing in projects that create jobs and bring sustained economic benefit to both countries.”
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“The Peace Motorway is an important step toward economic cooperation between Belgrade and Priština, and I commend the work of President Trump and the entire administration on this historic agreement,” said EXIM Bank’s Chairwoman, Kimberly A. Reed.
“The Export-Import Bank of the United States (EXIM Bank) is committed to supporting projects that both advance economic development and employment in the region, and support American exports and workers. I look forward to working with the U.S. International Development Finance Corporation, and the rest of my U.S. interagency colleagues, toward this goal.”
DFC and EXIM plan to send delegations to Belgrade and Priština later this month to advance work on The Peace Motorway and other projects.
DFC will also lay the groundwork for opening its first office in the region. A permanent DFC presence in Belgrade will facilitate the implementation of priority projects like the Peace Motorway that will support job creation and economic growth in the region.
The LOIs signed today are non-binding and will be followed by standard due diligence conducted by both agencies before financing is formally committed.
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