Albanian 
Prishtina, June 18, 2019 – The International Finance Corporation (IFC) in cooperation with the American Chamber of Commerce in Kosovo organized a roundtable in discussing about the positive effects of bankruptcy and about using the framework for insolvency.
Deputy Minister at the Ministry of Trade and Industry, Arbresha Krasniqi, said that MTI is working together with IFC in improving procedures in the country related to bankruptcy and efforts in supporting the development of the private sector as well as stimulating economic growth. Krasniqi further added that the Law on Bankruptcy is considered crucial on functioning of business activities in market economy and overall economic development.
AmCham Executive Director, Arian Zeka, said that the Law on Bankruptcy, approved by the Parliament of Kosovo in June 2016, has enabled a new legal framework which provides a modern platform for restructuring and liquidation of businesses, adding that this framework sets the appropriate processes through which businesses should go through and offers flexible protection in order to be in line with the requests of businesses in a dynamic environment of doing business. Zeka further added that this law consists of the best European and U.S. practices and standards for a modern and practical bankruptcy system which at the same time focuses in restructuring and reorganizing debt which is a crucial component in IFC project.
During the presentation of the Debt Resolution & Business Exit Project, businesses present were closely informed about the specifics of this project and also its impact in the private sector. Businesses also had the chance to express their concerns in this regard which could serve as the basis for the amendment of the law.