European Union, United States and Kosovo officials have hailed a donors’ conference for Kosovo as a great success, while the EU has said that spending of the money would be carefully monitored and Kosovo has promised the money will be spent in a “rational and transparent” way.

The conference, held in Brussels on July 11, saw pledges of a total of 1.2 billion euro, European Commission director for Western Balkans Pierre Mirel was quoted as saying by news agency Beta.

The EU and its member countries pledged a total of 800 million euro and the US 225 million euro. Germany pledged 100 million euro, the UK 28 million pounds sterling, Switzerland 47 million euro, Luxembourg 25.5 million euro, Italy 13 million euro, France 2.3 million euro, Slovenia 500 000 euro and Bulgaria 500 000 euro.

The George Soros Foundation pledged 500 000 euro in aid for the Roma community in Kosovo.

Mirel said that the conference was a great success. He said that the donors had emphasised that the money should be used to strengthen democracy and sustainable social and economic development in Kosovo. The administration in Pristina declared independence from Serbia on February 17 2008.

Mirel said that EU auditors would monitor the spending of the money.

The Voice of America reported that US state department official Rosemary DiCarlo had said that the donors’ conference raised more money than expected. “The donors’ conference to support Kosovo was a very important event,” said DiCarlo, who is state department deputy assistant secretary in the bureau of European and Eurasian affairs.

“The European Commission and other donors have shown readiness to support Kosovo’s economic and democratic development, while announced donations exceed our expectations,” DiCarlo said.

“We are very happy because of the fact that most European states have decided to support Kosovo in the future. We consider this to have absolutely essential significance for the region’s stability,” she said.

European Enlargement Commissioner Olli Rehn said special attention would be paid to monitoring and the capability of the Pristina authorities to spend the funds, as strictly required by the European Parliament’s budget committee.

Interviewed by Kosovo newspaper Koha Ditore, Rehn said that the donors’ conference was of immense importance not only for the economic development of Kosovo but also for the entire region. Rehn emphasised to the newspaper that the funds should be strictly managed.

“We will have to ensure all funds that will be used in Kosovo for economic development, education and rule of law and other needs are spent accordingly,” Rehn said.

Pristina-based news website Kosova Live quoted Kosovo prime minister Hashim Thaci as asking that those who participated in the donors’ conference should not judge “the previous politics, but the new economic reality”.

Thaci promised that the donations would be spent in a rational and transparent way. He said that it was the beginning of a new period for building a “modern multi-ethnic society” in Kosovo that could be integrated in the EU.

Meanwhile, Kosovo has applied for full membership in international financial institutions - the World Bank and the International Monetary Fund. Announcing this on July 11, Kosovo deputy prime minister Hajredin Kuqi said that Thaci had submitted the applications to World Bank and International Monetary Fund representatives on July 10.

Kosovo economy and finance minister Ahmet Shala said that he was certain that the World Bank and International Monetary Fund would accept the applications. Shala said that there were no obstacles to Kosovo joining the two institutions because countries that had recognised Kosovo as independent had more than 60 per cent of “financial weight” in the institutions.

Serbian news agency Tanjug reported on July 11 that Radovan Jelasic, governor of the National Bank of Serbia and Serbia’s representative on the International Monetary Fund board of governors, said that Serbia would ask IMF member countries not to approve the application or  “any other form of participation” in the fund’s work.

Jelasic said that he would write to the IMF to formally oppose the application.