12.06.2017

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Guarantee Agreement of 10 Million EURO has been signed

Prishtinë, 6 December 2017 – The Kosovo Credit Guarantee Fund (FKGK) signed the Guarantee Agreement with the Swedish International Development Cooperation Agency (Sida), represented by the Embassy of Sweden in Pristina.

During the event the Head of Mission of the Embassy of Sweden in the Republic of Kosovo, Mr. Wollter stressed: “To many, a re-guarantee facility may look like something very technical. But the tangible effect will be more business and employment. In our experience, this is a great way to create new opportunities for small and medium sized companies, including young entrepreneurs, women and minorities.”

Further, the US Ambassador underlined “Day after day in Kosovo I meet young entrepreneurs and business owners who just need a level playing field and that first, critical jump start to spur them on. Today, with the contributions from Sweden and Germany, many more jump starts will be realized. It’s a great day for the Kosovo Credit Guarantee Fund, and for all those ready to make their mark on Kosovo’s economy.”

This event marks another milestone that makes the Kosovo Credit Guarantee Fund stronger as a financial institution and more influential towards the economic development of Kosovo.

The support of the guaranteed portfolio of KCGF by Sida, will further enhance the ability of the Fund to ensure a higher level of credit guarantees, while at the same time increasing the financial sustainability of the sector. The sustainability will reflect the facilitation of financial intermediation hence increase of access to finance of micro, small and medium size enterprises, in order to promote economic growth and job creation for woman, man and youth of all ethnicities in Kosovo.

The total amount of loans approved by the banks that have been filed under the guarantee coverage has already reached 26.2 Million EURO distributed to 677 loans, while the investments made with these loans have promised 1101 new jobs.

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