EBRD Providing 3 Mln Euro to Kosovo‘s KRK for On-Lending to MSMEs

Mar 2020
Kosovo, March, 16 2020 - The European Bank for Reconstruction and Development said it has provided a 3.0 million euro ($3.3 million) loan to Kosovo-based microfinance institution Kreditimi Rural i Kosoves (KRK) for on-lending to micro, small and medium-sized enterprises (MSMEs).

The loan aims to support investments that will increase local companies’ competitiveness on domestic and regional markets, the EBRD said in a press release late on Friday.

MSMEs represent more than 90% of all companies in Kosovo, the bank added.

KRK is the third largest microfinance institution in Kosovo. It provides financial services to low-income clients and has a major focus on micro and SME clients and businesses in rural and urban areas of Kosovo.

KRK is owned by the European Fund for South Eastern Europe (EFSE), the Dutch development bank Netherlands Development Finance Company (FMO), the French development company International Solidarity for Development and Investment (SIDI) and Credit Cooperatif, a French cooperative bank, the EBRD said.

KRK became an EBRD client in 2012 when the bank provided a credit line for small enterprises and has remained among the key financial institutions for the bank to reach underserved MSMEs in Kosovo.

To date, the EBRD has invested 484 million euro in 72 projects in Kosovo.

Source : SeeNews

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