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EBRD lending EUR 5 mln to Raiffeisen Bank Kosovo to support SMEs

Banking

The European Bank for Reconstruction and Development said it is providing a EUR 5 million loan to Raiffeisen Bank Kosovo to increase the competitiveness of small and medium-sized enterprises (SMEs) in the country.

The loan will be used for on-lending to firms aiming to upgrade their technology, processes or services with a view to reaching EU standards, particularly those related to product quality, workers' health and safety, and EU environmental requirements, the EBRD said in a statement.

Furthermore, the EU will provide grant incentives worth up to 15% of the total loan amount on successful project completion to the loan receivers under the Western Balkans SME Competitiveness Support Program.

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