Italy’s Foreign Minister Antonio Tayan has announced the completion of the project TPS CIA, a new system for conducting immediate payments in Western Balkan countries, including Kosovo.
Tayan made the announcement during the Berlin Process Summit, held in Budva in Montenegro, attended by Italian Prime Minister Giorgia Melon.
The project was developed with the Bank of Italy’s proposal, based on the model of the European system T IPS, which allows for immediate payment implementation 24 hours a day throughout the year.
According to the Italian Foreign Ministry communiqué, the system aims to facilitate economic exchanges, lower transaction costs and help integrate the region into European financial infrastructure.
Part of the project are Albania, Bosnia and Herzegovina, Kosovo, Northern Macedonia and Montenegro.
The official inauguration of the project has been warned for 23 November in Rome, in the presence of governors of central banks of participating countries.
According to Italian authorities, this initiative is part of Italy’s commitment to the European integration of the Western Balkans and to strengthening the stability and economic development of the region.
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