Pristina, 16 September 2019 – Kosovo Credit Guarantee Fund (KCGF), has begun implementing the agreement signed on May 16, 2019 with the European Investment Fund (EIF) regarding the European Union’s MSME Support COSME Program. The support of the KCGF guaranteed portfolio from EIF, part of the European Investment Bank (EIF), will further enhance the Fund’s ability to provide a higher level of credit guarantees while at the same time achieving even greater stability for the financial sector.
Such sustainability will reflect the facilitation of financial intermediation, positively impacting the facilitation and promotion of MSME lending, as well as economic growth and employment in Kosovo.
This guarantee line, which will operate within KCGF for a two-year period, thanks to the EIF support, will provide the Financial Institutions with more favorable credit guarantee conditions.
KCGF is the first candidate from Kosovo with a transaction approved under the COSME Credit Guarantee Instrument. The value of guaranteed loans to MSMEs is expected to reach € 90,000,000 over a period of two years.
The total amount of approved loans by the Partner Financial Institutions and submitted under the guarantee coverage in Kosovo Credit Guarantee Fund has now reached 128.2 million euros spread in 3,350 loans, while investments made with these loans promise over 4,932 new jobs.
