Today, at an event organized by the Kosovo Credit Guarantee Fund (KCGF) and USAID Kosovo Compete Activity, a new financial facilitation window, the “EXPORT WINDOW”, was officially launched. Through the Export Window, new guarantees will be issued to partner financial institutions for the benefit of micro, small, and medium-sized enterprises (MSMEs), particularly export-oriented businesses.
The event was attended by representatives of: the Government of the Republic of Kosovo; the Central Bank of Kosovo; USAID; the Embassy of Sweden in Kosovo; the Banking Association; businesses from the wood processing, food processing, and Information and Communication Technology sectors; donors; commercial banks; microfinance institutions; and many other representatives, partners, and collaborators.
On this occasion, we bring you the statements from the speakers of this important event for Kosovo’s economy.
STATEMENT BY Ms. Rozeta Hajdari – Minister of Industry, Entrepreneurship and Trade
“A country that aims for sustainable economic development invests in strengthening capacities to support and empower exports. Export opens new opportunities for our successful businesses, which continue to prove themselves every day. Therefore, we want to pave the way for our country by creating new opportunities for local businesses to offer competitive products and services in the international market.
Today’s promotion of exports and the launch of a mechanism to facilitate access to finance through the Export Window by the Kosovo Credit Guarantee Fund, supported by USAID Kosovo Compete Activity and implemented through financial institutions, is an important step in advancing this field and creating excellent opportunities for our businesses and our country.
The Government of the Republic of Kosovo will continue to support and demonstrate the highest commitment to ensuring that our small country becomes part of the major global markets.”
STATEMENT BY Mr. JOSHUA MIKE – Head of Economic Development Office – USAID Kosovo
“By focusing on export growth, Kosovo is catalyzing new employment opportunities through penetration into new markets with high-quality products. NOW is the time for new financial products to increase the competitiveness of the economy while transforming the image of Kosovo!”
STATEMENT BY Mr. Fehmi Mehmeti – GOVERNOR of the Central Bank of Kosovo
“Bank lending continues to be a very important and stable source of financing for the private sector in Kosovo. By October 2022, the value of loans in the banking sector reached EUR 4.3 billion, marking an annual growth of 17.9%. Nevertheless, despite the satisfactory growth trend in bank lending, it is considered that the level of financial intermediation in Kosovo should increase even further, and compared to the size of the economy, there is additional room for expanding lending activities.
An important role in filling this gap is played by the Kosovo Credit Guarantee Fund, which through its guarantee mechanism will enable increased lending and easier access to credit conditions, especially for sectors of exceptional importance that ensure the country’s economic development. Therefore, this new window will help increase business exports, contributing to the overall economic development of the country. The Central Bank of the Republic of Kosovo will continue to support and encourage the financial sector to increase support for the economy, especially businesses aiming to export our products.”
STATEMENT BY Mr. Besnik Berisha – Managing Director of KCGF
“Today, as the Kosovo Credit Guarantee Fund (KCGF), we cannot feel anything other than extremely fulfilled and highly satisfied that, through our work and the work of our partners, supported by donors, we will become a link in your success through the EXPORT WINDOW. This success, in this case, aims to go beyond national borders.”
The event was attended by representatives of: the Government of the Republic of Kosovo; the Central Bank of Kosovo; USAID; the Embassy of Sweden in Kosovo; the Banking Association; businesses from the wood processing, food processing, and Information and Communication Technology sectors; donors; commercial banks; microfinance institutions; and many other representatives, partners, and collaborators.
On this occasion, we bring you the statements from the speakers of this important event for Kosovo’s economy.
STATEMENT BY Ms. Rozeta Hajdari – Minister of Industry, Entrepreneurship and Trade
“A country that aims for sustainable economic development invests in strengthening capacities to support and empower exports. Export opens new opportunities for our successful businesses, which continue to prove themselves every day. Therefore, we want to pave the way for our country by creating new opportunities for local businesses to offer competitive products and services in the international market.
Today’s promotion of exports and the launch of a mechanism to facilitate access to finance through the Export Window by the Kosovo Credit Guarantee Fund, supported by USAID Kosovo Compete Activity and implemented through financial institutions, is an important step in advancing this field and creating excellent opportunities for our businesses and our country.
The Government of the Republic of Kosovo will continue to support and demonstrate the highest commitment to ensuring that our small country becomes part of the major global markets.”
STATEMENT BY Mr. JOSHUA MIKE – Head of Economic Development Office – USAID Kosovo
“By focusing on export growth, Kosovo is catalyzing new employment opportunities through penetration into new markets with high-quality products. NOW is the time for new financial products to increase the competitiveness of the economy while transforming the image of Kosovo!”
STATEMENT BY Mr. Fehmi Mehmeti – GOVERNOR of the Central Bank of Kosovo
“Bank lending continues to be a very important and stable source of financing for the private sector in Kosovo. By October 2022, the value of loans in the banking sector reached EUR 4.3 billion, marking an annual growth of 17.9%. Nevertheless, despite the satisfactory growth trend in bank lending, it is considered that the level of financial intermediation in Kosovo should increase even further, and compared to the size of the economy, there is additional room for expanding lending activities.
An important role in filling this gap is played by the Kosovo Credit Guarantee Fund, which through its guarantee mechanism will enable increased lending and easier access to credit conditions, especially for sectors of exceptional importance that ensure the country’s economic development. Therefore, this new window will help increase business exports, contributing to the overall economic development of the country. The Central Bank of the Republic of Kosovo will continue to support and encourage the financial sector to increase support for the economy, especially businesses aiming to export our products.”
STATEMENT BY Mr. Besnik Berisha – Managing Director of KCGF
“Today, as the Kosovo Credit Guarantee Fund (KCGF), we cannot feel anything other than extremely fulfilled and highly satisfied that, through our work and the work of our partners, supported by donors, we will become a link in your success through the EXPORT WINDOW. This success, in this case, aims to go beyond national borders.”