Today, at the meeting of the Bilateral Partnership Commission between the Government of the Republic of Kosovo and the Grand Duchy of Luxembourg, the Minister of Industry, Entrepreneurship and Trade, Mrs. Rozeta Hajdari, emphasized the importance of the private sector with great industrial potential and in need of ongoing support, to become a driver of social, economic and environmental development in Kosovo.
The minister also mentioned the excellent potential for accelerating innovation from the young population, engaged in the digital and technological sector and other sectors of the growing creative industry in our country.
Subsequently, Minister Hajdari signed the Memorandum of Understanding (MoU) with HE Xavier Bettel, Deputy Prime Minister and Minister of Foreign Affairs and Foreign Trade and Minister for Development Cooperation and Humanitarian Affairs.
This Agreement concerns the implementation of a worldwide programme of Luxembourg's Development Cooperation, in relation to the two private sector commitment funds: "LuxAid Challenge Fund" and "LuxAid Demonstration Fund".
These two funds aim to support the local private sector to drive innovation and accelerate the achievement of the Sustainable Development Goals.
Both funds aim to identify innovative solutions that are commercially viable and demonstrate relevant development impact, through companies that have a responsible business behaviour at the core of their business activity.
Co-financing opportunities offered by the LuxAid Challenge Fund (LCF):
Purpose: Test and validate innovative solutions from start-ups and SMEs, focusing on the commercialization of new products and services.
Funding: Up to €120,000, covering 70% of the total project costs.
Co-financing opportunities offered by the LuxAid Demonstration Fund (LDF):
Goal: Growth of innovative projects that have demonstrated commercial viability and proven impact.
Funding: Up to €350,000, covering 50% of the total project costs.
Minister Hajdari expressed her gratitude for the close cooperation and continued support of the Grand Duchy of Luxembourg in Kosovo's journey towards sustainable and comprehensive development.
The minister also mentioned the excellent potential for accelerating innovation from the young population, engaged in the digital and technological sector and other sectors of the growing creative industry in our country.
Subsequently, Minister Hajdari signed the Memorandum of Understanding (MoU) with HE Xavier Bettel, Deputy Prime Minister and Minister of Foreign Affairs and Foreign Trade and Minister for Development Cooperation and Humanitarian Affairs.
This Agreement concerns the implementation of a worldwide programme of Luxembourg's Development Cooperation, in relation to the two private sector commitment funds: "LuxAid Challenge Fund" and "LuxAid Demonstration Fund".
These two funds aim to support the local private sector to drive innovation and accelerate the achievement of the Sustainable Development Goals.
Both funds aim to identify innovative solutions that are commercially viable and demonstrate relevant development impact, through companies that have a responsible business behaviour at the core of their business activity.
Co-financing opportunities offered by the LuxAid Challenge Fund (LCF):
Purpose: Test and validate innovative solutions from start-ups and SMEs, focusing on the commercialization of new products and services.
Funding: Up to €120,000, covering 70% of the total project costs.
Co-financing opportunities offered by the LuxAid Demonstration Fund (LDF):
Goal: Growth of innovative projects that have demonstrated commercial viability and proven impact.
Funding: Up to €350,000, covering 50% of the total project costs.
Minister Hajdari expressed her gratitude for the close cooperation and continued support of the Grand Duchy of Luxembourg in Kosovo's journey towards sustainable and comprehensive development.
