NLB Banka Prishtina Becomes EBRD Partner to Empower Women Entrepreneurs in Kosovo

NLB Banka Prishtina Becomes EBRD Partner to Empower Women Entrepreneurs in Kosovo

(IN BRIEF) NLB Banka Prishtina has partnered with the European Bank for Reconstruction and Development (EBRD) in Kosovo. The EBRD has provided two loans totaling €10 million to NLB Prishtina, which will lend the funds to small businesses in Kosovo, including those owned or run by women. €7 million of the financing will support micro, small, and medium-sized enterprises (MSMEs) to enhance competitiveness and promote development across the country. The remaining €3 million will be dedicated to loans for female entrepreneurs as part of the EBRD’s Women in Business program. The government of Sweden will support this initiative with donor funds for advisory services and capacity building. NLB Banka Prishtina is a member of the NLB Group, and this collaboration marks their first partnership on the debt side. The EBRD’s investment in Kosovo has now surpassed €600 million, highlighting their commitment to the region’s economic growth.

(PRESS RELEASE) LONDON, 14-Jul-2023 — /EuropaWire/ — The European Bank for Reconstruction and Development (EBRD), a multilateral developmental investment bank, is delighted to announce its partnership with NLB Banka Prishtina as a partner bank in Kosovo. The EBRD has extended two loans totaling €10 million to NLB Prishtina, which will further disburse the funds to its small business clients, with a special focus on companies led or owned by women.

Out of the total financing, €7 million from the EBRD funds will be allocated to micro, small, and medium-sized enterprises (MSMEs) across Kosovo. This funding package, operating under the EBRD’s well-established framework for financial intermediaries, aims to enhance the competitiveness of both the borrowers and the lenders. MSMEs will gain access to investment funds for company development, while the partner bank will expand its range of products for small business lending and strengthen its SME portfolio, even in the more remote regions of Kosovo.

The remaining €3 million will be dedicated to supporting female entrepreneurship through loans provided to companies either owned or managed by women. This financing aligns with the EBRD’s Women in Business program, an initiative that combines loans with business advisory services tailored for female entrepreneurs. As part of this project, NLB Prishtina will test and introduce new financing products that are more inclusive and gender-responsive. Business advice will also be provided to female entrepreneurs under the EBRD’s Advice for Small Business program.

The government of Sweden will provide support to this initiative through donor funds, which will cover advisory services for businesswomen and capacity building at NLB Prishtina. Ahttps://www.ebrd.com/work-with-us/trade-facilitation-programme.htmldditionally, the EBRD Shareholder Special Fund will provide further donor support in the form of risk-sharing.

NLB Banka Prishtina, as a member of the NLB Group, a prominent banking and financial group with a strategic interest in southeastern Europe, has previously collaborated with the EBRD under the Trade Facilitation Program. However, this project marks the first cooperation on the debt side.

EBRD Head of Kosovo, Sergiy Maslichenko, said: “We are pleased to team up with NLB Prishtina on small business lending. Our main priority is supporting the private sector, which plays a crucial role in the country’s economic development. Supporting Kosovo’s MSMEs and female entrepreneurs also means supporting job creation and innovation, because small businesses account for most of the country’s employment. In many cases, lending to small businesses may ultimately turn out less risky than local banks’ existing models predict; but we are also offering our partner banks to share the risk, which enables them to grow their SME portfolio even more.”

Gazmend Kadriu, President of the Management Board at NLB Banka Prishtina, said: “We are extremely grateful to the EBRD for its trust and collaboration. This partnership exemplifies a strong dedication to stimulating economic growth and promoting entrepreneurship throughout Kosovo. We are confident that this alliance will deliver exceptional outcomes, allowing us to empower SMEs and female entrepreneurs, and forge a more promising future for everyone involved.”

The EBRD’s investment in Kosovo has exceeded €600 million to date, reflecting its steadfast commitment to fostering economic growth and development in the country.

Media contact:

Tel: +44 207 338 7805
Email: press@ebrd.com

SOURCE: EBRD