Renzo Davidi told journalists in Pristina, Kosovo's capital, that 124.7 million euros ($192 million) would be allocated in 2008, a total of 66.1 million euros ($102 million) in 2009, and 67.3 million euros ($104 million) in 2010.
He said the money would first of all be invested in building up the breakaway republic's infrastructure.
Kosovo unilaterally declared independence from Kosovo on February 17. Since then, the United States and 18 of the 27 EU states have recognized the Republic of Kosovo.
However, Russia, China, Spain, Cyprus and several other countries have refused to recognize its independence.
Belgrade has recalled its ambassadors from a number of countries recognizing Kosovo's independence. Russia has also pledged to block any move by Kosovo to join the United Nations.
Prior to the declaration of independence by the Serbian province, the European Union approved the sending of a 2,000-strong police and justice mission to Kosovo to replace the UN mission deployed there since the NATO bombing of Serbia in 1999 ended a conflict between Albanian and Serb forces. Kosovo has been a UN protectorate since the end of this conflict.
