10.17.2018

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The Fund Signed an Agreement for Increase of Guarantee Limit with Banka për Biznes

Pristina, October 9, 2018 – The Kosovo Credit Guarantee Fund (FKGK) signed an agreement with the Banka për Biznes (BPB) to increase the guarantee limit. The increase of the limit for BPB shall further increase the Bank’s contribution to the development of the guarantee portfolio and achievement of the agreement objectives.

During the signing ceremony of the agreement, Chief Executive Officer of Banka për Biznes, Mr. Celina emphasized that “Increase of the guarantee limit with the Kosovo Credit Guarantee Fund shows our extended interest in providing MSMEs access to finance for businesses lacking collateral/mortgage, therefore directly contributing to further development of this sector, sector which has the greatest impact on the country’s economic growth”.

Furthermore, the FKGK Managing Director, Mr. Berisha underlined that “the agreement for new limit aims to further increase lending for Kosovan businesses, contribute to job creation, economic growth, as well as enhance opportunities for economic sectors such as women, minorities, farmers, entrepreneurs, and youth “.

The total amount of loans approved by all Banks which were placed under the guarantee coverage has now reached 66 million Euros distributed in 1’700 loans.

What is the procedure to benefit from the guarantee? Businesses apply for bank loans as usual, implementing all bank procedures. If future borrower’s mortgage/collateral value is not sufficient, the bank may decide to qualify the business and allocate such loan utilizing the KCGF guarantee. Businesses cannot apply directly to the KCGF to get the guarantee.

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