EBRD Extends €4 Million Loan to KEP Trust to Boost MSMEs and Female Entrepreneurs in Kosovo

EBRD Extends €4 Million Loan to KEP Trust to Boost MSMEs and Female Entrepreneurs in Kosovo

(IN BRIEF) The European Bank for Reconstruction and Development (EBRD) has provided a loan of up to €4 million to KEP Trust, a microfinance institution in Kosovo and a long-standing partner of the EBRD. This loan aims to support micro, small, and medium-sized enterprises (MSMEs) in Kosovo, with a special focus on the underserved segments of the economy, particularly micro-sized businesses and female entrepreneurs. KEP Trust plans to allocate at least 30% of the loan to finance women-led MSMEs, enhancing economic inclusion for women in the country and expanding its services beyond the capital to areas with limited access to financing. The EBRD’s investment reinforces its commitment to fostering economic growth and inclusivity in Kosovo, with a strong emphasis on supporting the private sector and advancing economic inclusion.

(PRESS RELEASE) LONDON, 7-Oct-2023 — /EuropaWire/ — The European Bank for Reconstruction and Development (EBRD) is supporting micro, small and medium-sized enterprises (MSMEs) in Kosovo with a loan of up to €4 million to KEP Trust, a microfinance institution and long-standing partner of the Bank. The loan will be used for on-lending to small businesses, with a focus on the micro segment and female entrepreneurs, which are both an underserved segment of the economy.

The loan is part of the Bank’s framework for financial intermediaries that supports the competitiveness of local banks and microfinance institutions, as well as their clients, which are typically SMEs.

KEP Trust will use at least 30 per cent of the loan to finance women-led MSMEs, further enhancing the economic inclusion of female entrepreneurs in the country.

KEP will also aim to attract new clients, especially in areas outside the capital where financing is less available.

EBRD Head of Kosovo, Sergiy Maslichenko, said: “We are happy to continue collaborating with KEP Trust, our partner since 2006. MSMEs are an important part of Kosovo’s economy, and KEP Trust’s focus on the micro segment will empower entrepreneurs and solidify their position in the market. An important part of this project is the support to women entrepreneurs, which demonstrates our joint committment to economic inclusion.’’

KEP Trust Chief Executive, Shpend Nura, commented: “We are delighted to announce the EBRD’s support for entrepreneurship in Kosovo through a €4 million loan to KEP Trust. This partnership is a testament to our commitment to fostering economic growth and inclusivity in Kosovo. By directing at least 30 per cent of the loan towards women-led MSMEs, we are not only empowering entrepreneurs but also advancing economic inclusion. We look forward to seeing the positive impact of this collaboration on Kosovo’s economy.”

Founded in 1999, KEP Trust is the largest microfinance institution in Kosovo, with a successful track record in MSME financing.

The EBRD has, to date, invested more than €620 million in Kosovo through more than 100 projects, and 68 per cent of total investment has been in the private sector. The Bank’s strategic priorities in the country are to develop a more competitive and inclusive private sector, support the green economy transition and strengthen regional integration, connectivity and foreign investment.

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SOURCE: EBRD