The Government of the Republic of Kosovo and the International Development Association as a part of the World Bank have signed the financing agreement for the Financial Sector Strengthening Project.

As a result of financing agreement for the Financial Sector Strengthening Project, the capital of Kosovo Credit Guarantee Fund has increased in the amount of 21.4 million euros. Through the Financial Sector Strengthening Project, the World Bank aims to support the recovery of Kosovo’s economy by supporting access to finance for micro small and medium enterprises. This component beside the economic sectors in general, aims to target specifically marginalized market segments, such as women in business, young entrepreneurs, and the manufacturing sector. The Financial Sector Strengthening Project aims to advance the financial and technical capacity of KCGF through the provision of technical assistance. The total value of the assistance agreement including technical assistance is in the amount of about 22.3 million euros.

Through this capital, KCGF will strengthen its role in efforts to combat the negative effects caused by the COVID-19 pandemic under the Economic Recovery Package.