The status of the two countries will be discussed Friday during an International Olympic Committee executive board meeting in Montreux, Switzerland, IOC spokesman Mark Adams said today.
The IOC's possible recognition of Kosovo has angered Serbian Olympic officials, who have worked to block international acceptance of the breakaway province.
IOC recognition would clear the way for Kosovo to compete as an independent team at the 2016 Olympics in Rio de Janeiro.
Gambian athletes, meanwhile, could be barred from competing for their country in a continuing dispute over control of their national Olympic body.
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The Serbian Olympic Committee said it has been informed by the IOC that Kosovo will be granted full recognition. Normally, the IOC waits for the United Nations to recognize a nation or state before granting Olympic recognition.
Kosovo has not been accepted as a UN member.
More than 100 nations have recognized Kosovo, while Russia and China have not. Most EU members have also recognized Kosovo, with the exception of Spain, Greece, Cyprus, Romania and Slovakia.
In order to be eligible for IOC recognition, a national Olympic committee must be affiliated with at least five international sports federations.
The head of Kosovo's Olympic committee, Besim Hasani, told The Associated Press that Kosovo has 13 internationally recognized sports federations, ranging from table tennis and curling to sailing and judo.
Officials in Kosovo welcomed the prospect of forming its own Olympic team.
Hasani said he expects up to 10 athletes to compete in Rio, including in the sports of judo, boxing and wrestling.
He insisted the dispute with Serbia over the Olympics has nothing to do with the United Nations.