12.14.2020

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The Economic Recovery Package is launched by the KCGF

Pristina, 14 December 2020 – The Kosovo Credit Guarantee Fund (KCGF) in cooperation with the Government of the Republic of Kosovo and international donors launched the Economic Recovery Package. 

 The Economic Recovery Package (ERP) is a new guarantee line that will operate within the  KCGF and that aims to support Micro, Small and Medium Enterprises (MSMEs) through the credit guarantees. This Package envisages the increase of the credit guarantee coverage up to 80% of the loan volume, and will also offer the opportunity to the farmers with a Farmer Identification Number (NIF). Five windows that will address the needs of certain market segments will operate within the package. This package is expected to help the access to finance for the enterprises that have been affected from the crisis, and enterprises with the strategic importance to the economy of the Republic of Kosovo. The guarantee windows within this Package are expected to support access to finance for MSMEs in the amount of up to € 202 mio for a period of one year. 

The development of ERP will have in focus the support of lending in the sectors of production, agribusiness, services, trade, with a  special focus on women in business, start-ups (such as ICT) and investments in energy efficiency.  

In this time of pandemic, ERP will have added value for both, end beneficiaries (MSMEs) who will have access finance with better lending conditions at the appropriate time, as well as for Financial Partner Institutions (PFI) which will be able to share a large portion of credit risk with the KCGF. 

Such a package has been praised by Partner Financial Institutions which see it as necessary to support access to finance  by being inclusive for all sectors and categories of the clients affected by the crisis. 

This event marks another milestone for Kosovo Credit Guarantee Fund for the achievement of the institutional objectivessuch as: supporting the access to  finance for micro, small and medium enterprises in Kosovo, as well as for underserved segments such as women in business and new businesses.

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