Bettering entry to finance for micro- and women-led enterprises outdoors Pristina
Funds to assist investments by small companies and feminine entrepreneurs
Donor assist from Sweden
The European Financial institution for Reconstruction and Growth (EBRD) is backing ladies entrepreneurs and small companies in Kosovo with a brand new financing bundle to Company for Finance in Kosovo (AFK), a microfinance establishment.
Some €2 million of the mortgage bundle might be allotted to supporting investments by women-led companies. The funding is secured underneath the EBRD’s Girls in Enterprise programme, which promotes ladies’s entrepreneurship and their participation in enterprise by offering entry to finance and know-how.
The Girls in Enterprise programme is supported by the federal government of Sweden and, since its launch within the Western Balkans in 2014, has reached greater than 4,800 feminine entrepreneurs. The power will construct on the success of the primary Girls in Enterprise mortgage prolonged to AFK again in 2019, which noticed investments in manufacturing amenities, tools and improved companies.
As well as, €2 million might be on-lent to micro-, small and medium-sized enterprises (MSMEs) in an effort to broaden entry to finance for personal corporations throughout the nation. AFK goals to succeed in companies outdoors the capital metropolis of Pristina, specifically, and supply financing to new purchasers.
Neil Taylor, EBRD Head of Kosovo, mentioned: “The gender gaps stay far too excessive and restrict the nation’s financial potential. With assist from Sweden, we’re happy to accomplice once more with AFK to succeed in extra women-led companies, serving to them to develop and alter the established order. Supporting MSMEs and addressing inclusion challenges are key priorities for us right here.”
Vahdet Anadolli, Govt Director of AFK, mentioned: “AFK is privileged to proceed its cooperation with the EBRD with these funds devoted to the event of small enterprise and ladies entrepreneurs, segments which can be in very important want of sustainable monetary assist and technical help. Along with the EBRD, AFK is ready to fulfil its core mission of nurturing Kosovo’s micro-enterprises.”
AFK is the fourth-largest microfinance establishment in Kosovo. Headquartered in Peja and working since 2000, it presently serves greater than 22,000 clients, the bulk in rural areas of the nation, by a community of 25 branches and 233 workers.
The EBRD has invested €623 million in Kosovo because it started working there in 2012. The Financial institution’s strategic priorities within the nation are to advertise the inexperienced financial system, assist the aggressive improvement of the personal sector and foster regional integration.