ADVERTISEMENT

Small businesses in Kosovo to be supported

World

Graphic by corund / Shutterstock.com

The European Bank for Reconstruction and Development (EBRD) will provide a EUR 2 million loan to the Agency for Finance (AFK), one of the leading microfinance institutions in the country, the EBRD said in a statement.

Graphic by corund / Shutterstock.com

This will be complemented by the European Fund for Southeast Europe (EFSE) and CoopEst, who are extending EUR 2 million and EUR 0.5 million, respectively.

CoopEst was set up in 2006 to foster the development of a socially-rooted financial sector in Central and Eastern Europe and the Caucasus (CEEC).

The funds will be on-lent to local enterprises, increasing much-needed access to finance and supporting small businesses facing unprecedented challenges, the EBRD said.

MSMEs are a vital element of Kosovoʼs economy, representing more than 90% of all companies in the country. 

Heavy Rains Expected This Week to Ease Drought Weather

Heavy Rains Expected This Week to Ease Drought

Hungary Treats Smooth EU Transition as Priority, Says Bóka EU

Hungary Treats Smooth EU Transition as Priority, Says Bóka

HU-rizon Program: HUF 8 bln Funding for International Resear... Science

HU-rizon Program: HUF 8 bln Funding for International Resear...

Inspiring Women at the Focus of Gourmet Fest In Budapest

Inspiring Women at the Focus of Gourmet Fest

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.