Kosovo Credit Guarantee Fund guarantees a record number of loans

Speeches Shim

Monday, July 12, 2021
Affordable credits facilitate business growth
USAIDKosovo

During April, the Kosovo Credit Guarantee Fund (KCGF) accepted 419 loans under guarantee totaling 13.5 million euros.  This is the highest amount ever reached for a one-month period since KCGF began in 2017.  Since its establishment, KCGF, with support from USAID, has guaranteed over 7,200 loans totaling 282 million euros.   

The record number of loans is driven largely by the COVID-19 Economic Recovery Package (ERP) window financed by the Government of Kosovo.  This financing enabled KCGF to increase the loan amount under guarantee from 50 percent to 80 percent, incentivizing banks to issue more loans.  Nearly 70 percent of all the guaranteed loans in April were part of the ERP window through which farmers, agribusinesses, and women-owned businesses obtained loans.  

KCGF continues to play an important role in Kosovo's economic growth by mobilizing capital from banks to the private sector to obtain much needed financing.  Additionally, the Government of Kosovo has demonstrated both commitment and capacity to drive Kosovo’s development forward in partnership with the private sector.

 

Last updated: July 23, 2021

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