- The grant will ensure the provision of technical assistance for the project’s preparation, integrating the highest technical, environmental and social standards.
- The financing comes from the EIB’s Economic Resilience Initiative, under the Urban Projects Finance Initiative.
Thanks to a €500 000 cooperation agreement signed between the European Investment Bank (EIB Global), Republic of Kosovo*’s Ministry of Culture, Youth and Sport and the Local Public Enterprise “Pallati i Rinisë”, the EU bank will provide technical assistance for the reconstruction, conservation and restauration of the Palace of Youth and Sports in Prishtina. The project aims to transform the facility into a state-of-the-art, multifunctional center, while preserving the cultural heritage values, ready to serve as the competition and training venue for the XXI Mediterranean Games- Prishtina 2030 to be hosted by the Republic of Kosovo.
The consultancy services will enable the execution of technical, environmental, financial, and energy assessments, as well as the preparation of preliminary designs for the building complex. This will involve integrating cutting-edge equipment, energy-efficiency measures and heritage protection, in line with the relevant international conventions and regulations. The grant comes under the Urban Projects Finance Initiative, which draws on resources from the EIB’s Economic Resilience Initiative. It was launched in partnership with Agence Francaise de Développement to support innovative and sustainable urban development projects in the Western Balkans and beyond.
EIB Head of Regional Representation for the Western Balkans Damien Sorrell said: “The goal of this project is to ensure that the cultural and historical heritage of the building complex is retained, while updating it to meet the highest technical standards in terms of stability, safety, functionality and energy efficiency. We are pleased that the Team Europe initiative has once again demonstrated its effectiveness in delivering high-impact projects that bring significant value for generations to come in Kosovo and the entire Western Balkans region.”
Republic of Kosovo’s Minister of Culture, Youth and Sport Hajrulla Çeku said: “The revitalization of the Palace of Youth and Sports is a project of strategic importance for Kosovo’s cultural and sports infrastructure. This cooperation with the European Investment Bank is a valuable contribution that supports our ongoing efforts to modernize and preserve this iconic venue, ensuring it meets the highest technical and environmental standards. Through this initiative, we are not only safeguarding our heritage but also creating a multifunctional space that will serve future generations and play a central role in hosting the 2030 Mediterranean Games. We remain committed to sustainable urban development that enhances opportunities for our youth and strengthens Kosovo’s international presence in culture and sports”. the
Mrika Gashi Macula, CEO of the LPE “Pallati i Rinisë” JSC, stated: “On behalf of the shareholders of the Public Enterprise and in close coordination with the Board of Directors, we welcome the support provided by the European Investment Bank and the Ministry of Culture, Youth and Sport. This technical assistance grant represents a significant milestone in advancing the preparation of the renovation and modernization project for the Palace of Youth and Sports. The project will ensure the preservation of the building’s cultural and historical value while transforming it into a state-of-the-art, energy-efficient, and multifunctional facility. Guided by the strategic vision of our shareholders and the oversight of the Board of Directors, we remain committed to facilitate the delivery of a project of long-term value for Prishtina, the capital city of Kosovo, which will play an important role in hosting the 2030 Mediterranean Games”.
* This designation is without prejudice to positions on status and it is in line with UNSCR 1244/1999 and the ICJ Opinion on the Kosovo declaration of independence
Background information
About EIB Global
The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. It finances investments that contribute to EU policy objectives.
EIB Global is the EIB Group’s specialised arm devoted to increasing the impact of international partnerships and development finance, and a key partner of Global Gateway. We aim to support €100 billion of investment by the end of 2027 — around one-third of the overall target of this EU initiative. Within Team Europe, EIB Global fosters strong, focused partnerships alongside fellow development finance institutions and civil society. EIB Global brings the EIB Group closer to people, companies and institutions through our offices across the world. High-quality, up-to-date photos of our headquarters for media use are available here.
https://www.linkedin.com/company/eib-global/
About the EIB in the Western Balkans:
The EIB is a leading international financier in the Western Balkans. Since 2010, the Bank has financed projects worth over €11 billion in the region. Besides continuing its support for the reconstruction and upgrading of public infrastructure, the EIB has expanded into many new areas since 2010, including healthcare, research and development, education, and small and medium enterprises.
Economic Resilience Initiative (ERI)
ERI is the EIB’s response to the European Council’s call to intensify its support for the European Union’s neighbourhood, in pursuit of economic growth and the achievement of the sustainable development goals (SDGs). The objective of this initiative is to rapidly mobilise additional financing in support of sustainable growth, vital infrastructure and social cohesion in Southern Neighbourhood and Western Balkan countries. The Economic Resilience Initiative focuses on both the public and the private sectors, in support of EIB activities at different stages of the project cycle. The EIB is contributing to the ERI TA window with an envelope amounting to €90 million from its own budget resources.