Pristina, 09 July 2018 – KCGF becomes a member of the European Association of Guarantee Institutions – AECM.
The AECM Board together with the General Assembly officially accepted the #KCGF application for membership at the annual meeting held on 14 June 2018 in Warsaw, Poland.
AECM is a non-profit international organization based in Brussels, which operates as an open, democratic organization, independent of any political or financial group. AECM has 47-member organizations operating in 28 EU countries, Bosnia and Herzegovina, Kosovo, Serbia, Russia and Turkey. Its members are mutual, private sector guarantee schemes as well as public institutions, which are either guarantee funds or Development banks with a guarantee division. They all have in common the mission of providing loan guarantees for SMEs who have an economically sound project but cannot provide sufficient bankable collateral.
AECM represents the political interest of its member organisations both towards the European Institutions, such as the European Commission, the European Parliament and Council, as well as towards other, such as European Investment Bank (EIB), the European Investment Fund (EIF), the Bank for International Settlement (BIS), the World Bank, etc. In addition, AECM serves as platform for exchange of best practices on a variety of operational issues, as well as provides different information from the research conducted with regard to the guarantee sector.
All of this will enable the KCGF to benefit from its membership in AECM, especially benefit from exchange of experiences with experienced guarantee institutions, always with the goal of achieving its objectives such as: support of the private sector in Kosovo by increasing access to finance for MSMEs, creating jobs, increasing local production, improving the trade balance and enhancing opportunities for underserved economic sectors.
In 2017, AECM member organizations had a total guarantee volume in portfolio of over 125.6 bn. EUR and issued a total volume of over 74.2 bn. EUR of new guarantees.
For more information regarding AECM, please visit: www.aecm.eu.