Kosovo Becomes the Largest Beneficiary in the Region from the EU-KfW Guarantee for the Western Balkans Project – Supporting Entrepreneurs and MSMEs
Prishtina, 16 October 2024 – The Kosovo Credit Guarantee Fund (KCGF) and KfW Development Bank today signed an agreement to further strengthen financial cooperation aimed at supporting small and medium-sized enterprises (MSMEs) in Kosovo.
The agreement, titled “EU-KfW Guarantee for the Western Balkans – Supporting the Resilience of Entrepreneurs and MSMEs,” is an integral part of ongoing efforts to support economic growth and development, expand access to finance, and promote sustainable growth throughout the region.
This initiative, financed by the European Union and implemented through KfW Development Bank, amounts to a total of EUR 22,133,500, representing the largest share of the regional project allocation — approximately 45% of the total project value dedicated to the countries of the region. Consequently, Kosovo is the largest beneficiary of this project.
During the signing ceremony, senior representatives of the European Union, KCGF, and KfW Development Bank emphasized the key role of this agreement in empowering Kosovo’s micro, small, and medium-sized enterprises (MSMEs), which serve as an important driver of employment growth and economic stability in the country.
The new financial instruments supported through this cooperation will reduce lending risk for financial institutions, creating a more favorable environment for MSMEs to grow and develop despite ongoing challenges.
The event was attended by senior representatives of the Government of the Republic of Kosovo, senior representatives from KfW Development Bank and the European Union in Kosovo, KCGF donors, partner banks, and numerous collaborators.
Prishtina, 16 October 2024 – The Kosovo Credit Guarantee Fund (KCGF) and KfW Development Bank today signed an agreement to further strengthen financial cooperation aimed at supporting small and medium-sized enterprises (MSMEs) in Kosovo.
The agreement, titled “EU-KfW Guarantee for the Western Balkans – Supporting the Resilience of Entrepreneurs and MSMEs,” is an integral part of ongoing efforts to support economic growth and development, expand access to finance, and promote sustainable growth throughout the region.
This initiative, financed by the European Union and implemented through KfW Development Bank, amounts to a total of EUR 22,133,500, representing the largest share of the regional project allocation — approximately 45% of the total project value dedicated to the countries of the region. Consequently, Kosovo is the largest beneficiary of this project.
During the signing ceremony, senior representatives of the European Union, KCGF, and KfW Development Bank emphasized the key role of this agreement in empowering Kosovo’s micro, small, and medium-sized enterprises (MSMEs), which serve as an important driver of employment growth and economic stability in the country.
The new financial instruments supported through this cooperation will reduce lending risk for financial institutions, creating a more favorable environment for MSMEs to grow and develop despite ongoing challenges.
The event was attended by senior representatives of the Government of the Republic of Kosovo, senior representatives from KfW Development Bank and the European Union in Kosovo, KCGF donors, partner banks, and numerous collaborators.