The executive director of the American Financial Corporation for International Development (DFC), Adam Bohler, and the director of the Export-Import (EXIM) bank of the USA, Kimberly Reed, signed letters of intent with Serbia and Kosovo to help finance the construction of the “Peace Road” between Nis and Pristina.
According to the DFC, Bohler and Reed signed the letters on Tuesday, based on the “historic agreement on economic normalization that Serbia and Kosovo signed” on September 4 in Washington.
It is stated that the letters of intent are not binding and that both agencies will conduct standard checks before they officially commit to funding.
The “Highway of Peace” project has long been a key part of negotiations on the normalization of relations between Serbia and Kosovo, according to the DFC.
Bohler said that “the highway of peace will start economic development and regional integration by connecting Nis and Pristina”.
“It will also be a strong symbol of the new, transformative relationship of these neighboring countries. In partnership with EXIM Bank, DFC is committed to developing this peace process by investing in projects that create jobs and bring sustainable economic benefits to both countries,” Bohler said.
Reed said that “the Highway of Peace is an important step towards economic cooperation between Belgrade and Pristina” and praised the work of US President Donald Trump and the entire US administration “on this historic agreement,” the statement said.
“EXIM Bank of the United States is committed to supporting projects that advance economic development and employment in the region and support U.S. exports and workers. I look forward to working with the DFC and other American colleagues to achieve this goal,” Reed said.
DFC and EXIM Bank are reportedly planning to send delegations to Belgrade and Pristina this month to improve work on the Peace Highway and other projects.
“DFC will also lay the groundwork for opening its first office in the region. The permanent presence of DFC in Belgrade will facilitate the implementation of priority projects such as the Peace Highway, which will contribute to job creation and economic growth in the region,” the statement added.
The President of Serbia, Aleksandar Vucic, and the Prime Minister of Kosovo, Abdulah Hoti, undertook to normalize economic relations on September 4 in the White House. In the presence of US President Donald Trump, they each signed a copy of the document called “Economic Normalization”. The documents differ only in the last of the 16 points.
One of the points states that Kosovo and Serbia will cooperate with DFC and EXIM Bank of the United States on memorandum of understanding for the realization of the Peace Highway, the railway connection between Pristina and Merdare, the railway connection between Nis and Pristina, providing funds to finance loans needed for small and medium-sized enterprises, additional bilateral projects and the permanent presence of DFC in Belgrade.
Last night, Hoti welcomed the signing of the letter of intent from DFC and EXIM Bank, adding that it was “good news” on the way to fulfilling the agreement from the White House.
