By Axel Reiserer
Local micro and small businesses in Kosovo will benefit from a €3 million(US$3.33million) loan provided by the EBRD to Kreditimi Rural i Kosoves (KRK), a microfinance institution.
The EBRD loan will be on-lent to local enterprises with the specific goal of funding investments that will increase local companies’ competitiveness on domestic and regional markets. Micro, small and medium-sized enterprises represent more than 90 per cent of all companies in Kosovo.
Kreditimi Rural i Kosoves is the third-largest microfinance institution in Kosovo. It is owned by the European Fund for South Eastern Europe (EFSE), the Dutch development bank Nederlandse Financierings-Maatschappij Voor Ontwikkelingslanden (FMO), the French development company Solidarité Internationale pour le Développement et l’Investissement (SIDI) and Crédit Coopératif, a French cooperative bank.
The EBRD has invested over €484 million in Kosovo through 72 projects since it began operations in the country in 2012. Supporting the competitive development of the private sector is one of the key priorities for the Bank in Kosovo.