EIB Supports Prishtina’s Heritage: €500,000 Grant for Revitalizing the Palace of Youth and Sports Ahead of 2030 Mediterranean Games

EIB Supports Prishtina’s Heritage: €500,000 Grant for Revitalizing the Palace of Youth and Sports Ahead of 2030 Mediterranean Games

(IN BRIEF) A €500,000 grant under the EIB’s Economic Resilience Initiative and Urban Projects Finance Initiative will provide technical assistance for the Palace of Youth and Sports renovation in Prishtina. The project will focus on the building’s reconstruction, conservation, and restoration, ensuring it achieves high technical, environmental, and social standards. Key assessments and preliminary design work will be conducted to integrate modern equipment, energy-efficient measures, and heritage protection. The initiative, facilitated through a partnership between the EIB, the Republic of Kosovo’s Ministry of Culture, Youth and Sport, and “Pallati i Rinisë”, aims to transform the venue into a multifunctional center ready to host the XXI Mediterranean Games – Prishtina 2030. This effort, underlined by statements from EIB’s Damien Sorrell, Minister Hajrulla Çeku, and Mrika Gashi Macula of Pallati i Rinisë, reinforces a commitment to preserving cultural heritage while driving sustainable urban development in Kosovo and the Western Balkans.

(PRESS RELEASE) LUXEMBOURG, 11-Apr-2025 — /EuropaWire/ — A €500,000 cooperation agreement has been signed between the European Investment Bank (EIB Global), the Republic of Kosovo’s Ministry of Culture, Youth and Sport, and the Local Public Enterprise “Pallati i Rinisë”. Under the EIB’s Economic Resilience Initiative and its Urban Projects Finance Initiative, the grant will fund technical assistance for the reconstruction, conservation, and restoration of the Palace of Youth and Sports in Prishtina. The project aims to transform this iconic venue into a state-of-the-art, multifunctional center, while preserving its rich cultural and historical heritage, and preparing it to host the XXI Mediterranean Games – Prishtina 2030.

The technical assistance will cover comprehensive consultancy services including technical, environmental, financial, and energy assessments, as well as the development of preliminary designs for the building complex. The modernization effort will integrate cutting-edge equipment, energy-efficiency measures, and heritage protection protocols in line with international conventions and regulations.

Damien Sorrell, EIB Head of Regional Representation for the Western Balkans, stated, “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.”

Hajrulla Çeku, Republic of Kosovo’s Minister of Culture, Youth and Sport, added, “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 supports our efforts to modernize and preserve this iconic venue—ensuring it meets the highest technical and environmental standards, secures our heritage, and provides a multifunctional space for future generations and the 2030 Mediterranean Games.”

Mrika Gashi Macula, CEO of the Local Public Enterprise “Pallati i Rinisë” JSC, remarked, “On behalf of the shareholders and in close coordination with our Board of Directors, we welcome the support provided by the European Investment Bank and the Ministry of Culture, Youth and Sport. This grant is a significant milestone in advancing our renovation and modernization plans for the Palace of Youth and Sports. Our commitment is to preserve the building’s cultural and historical value while transforming it into an energy-efficient and multifunctional facility that will add long-term value to Prishtina and support the hosting of the 2030 Mediterranean Games.”

*This designation is without prejudice to positions on status and 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.

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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.

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SOURCE: European Investment Bank