Pacolli Elected President of Kosovo

Tycoon Behgjet Pacolli, who is believed to be among the richest Albanians in the world, was elected President of the Republic of Kosovo on Tuesday.

Pacolli was voted President by the Kosovo Parliament two months after the snap general elections in December.

Pacolli's election as President comes several days after Kosovo celebrated its 3rd year of independence from Serbia – declared on February 17, 2008.

His election was a deal negotiated between Pacolli's small New Kosovo Alliance and PM Hashim Thaci's Democratic Party of Kosovo, which won the elections in December.

Pacolli controls a large international construction and civil engineering business.

The two parties have largely split the composition of the future cabinet. Thaci's Democratic party will reportedly have the PM's slot, one vice-PM and 8 ministers, as well as the Chair of Parliament.

Minister seats have also been reserved for parties representing Kosovo's minorities, including Serbs.

Initially Thaci hoped to make of coalition with former PM Ramush Haradinaj's party Alliance for the Future of Kosovo, but the Alliance declined.

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