04.08.2020

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The Financial Agreement for Increase of the Guarantee Capital for the Kosovo Credit Guarantee Fund is signed

Prishtina, 08 April 2020 – The Financial Agreement for Increase of the Guarantee Capital for the Kosovo Credit Guarantee Fund is signed.

The acting Minister of Finance and Transfers, Besnik Bislimi, and the director of the KfW Office for Kosovo, Rene Eschemann, have signed the financial agreement for Increase of the Guarantee Capital for the Kosovo Credit Guarantee Fund in the amount of EUR 6.5 million.

This support from the German Government for Agribusiness is good news, in this situation where the business sector is facing a crisis as a result of the COVID-19 pandemic.

The Guarantee Capital increase will be intended for the Agro Window launched two years ago. Agro Window is a guarantee line that operates within the KCGF with the purpose to support agribusinesses by guaranteeing loans for this sector.

This guarantee line, which is fully funded by the German Government, through the German Development Bank – KfW, already backed by a capital of EUR 11.5 million, will continue to focus on supporting lending in the agribusiness sector, as one of the most important sectors for creating added value in economy, for import substitution and for increase of the export capabilities of local agribusinesses.

This event marks a milestone for the Kosovo Credit Guarantee Fund for the achievement of the institutional objectives, such as: supporting the access to finance for micro, small and medium enterprises in Kosovo, increasing employment and supporting the economic development of our country.

The total amount of loans approved by the banks and that have been filed under the guarantee coverage has already reached 180 million euros distributed over 4,600 loans, while the investments made with these loans promised over 6,500 new jobs.

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