Add us as your preferred source on Google to see more of our content in Search.
Add to Preferred SourcesSmall and medium-sized enterprises (SMEs) in Kosovo can now benefit from a new EBRD-EU programme to enhance their competitiveness.
The programme, which was presented in Pristina, will help boost SMEs both in the country and regionally, as well as in the EU market, through a package of loans, incentive grants and technical assistance.
€25 million has been allocated to two partner commercial banks, Bank per Biznes and Procredit Bank Kosovo, which will be coupled with a dedicated package of technical assistance and incentive grants in excess of €5 million from the EU national Instrument for pre-Accession funding (IPA).
SMEs can use the funds to improve their production capacities and processes, as well as product quality through the introduction of EU environmental protection, safety, and quality standards.
Kosovo’s SMEs represent a remarkable 99.8 percent of registered enterprises and generate close to 75 percent of employment in the country.
However, despite their dominant position in the economy of Kosovo, local small businesses often suffer from a lack of competitiveness and access to finance and their contribution to export is only around 5-6 percent.
Neil Taylor, EBRD Head for Kosovo said: “We are confident that this programme will improve small businesses’ access to much-needed finance. A combination of funding and dedicated advisory will provide an impulse to further improve their performance. We have seen how successful this programme is in other countries and we are pleased to support SMEs in Kosovo as well.”
The EBRD began investing in Kosovo in 1999. To date, the Bank has signed 63 projects in the country with a net cumulative business volume of €366 million. Kosovo became an EBRD member and country of operations in December 2012.
Original source: EBRD
Published on 20 March 2019