The Prime Minister of Republic of Kosovo, Hashim ThaÃ§i, today confirmed that Kosovo has been admitted to the World Bank. With over 100 countries being in favor of Kosovo joining the World Bank the admittance sends a strong message that Kosovo is accepted as a sovreign state by countries and institutions of the world.
The World Bank is made up of two institutions, the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA). World Bank’s main role is to help governments lead and implement development projects. The World Bank Group includes additional three institutions.
Acceptance into the World Bank is significant for Kosovo because, together with the IMF, it gives it access to both expertise and funds for the development of the Kosovar economy, infrastructure and society.