The European Bank for Reconstruction and Development (EBRD), a London-based multilateral financial institution, plans to allocate EUR 12 million (USD 15.4 million) to Kosovo Sustainable Energy Projects (KoSEP), an EBRD framework intended to promote energy efficiency and renewable energy investments by small and medium enterprises (SMEs) and the residential sector. The facility will disburse senior loans to “participating financial institutions” (PFIs) in Kosovo, which will be required to on-lend the funds as SME- or residential-sector sub-loans. The framework is pending final review within EBRD. The 2008 Kosovo Instrument for Pre-Accession Assistance (IPA) Programme, a European Union (EU) program intended to aid Kosovo in joining the EU, reportedly will provide a grant of unspecified size to KoSEP for technical assistance and to fund incentives to end-borrowers.
In 2011, EBRD disbursed a total of EUR 6.7 billion (USD 8.3 billion) in Eastern Europe, Central Asia and North Africa.
By Nicole Boyd, Research Associate
About European Bank for Reconstruction and Development
The European Bank for Reconstruction and Development (EBRD) is a multilateral institution headquartered in London. The bank began operations in 1991 upon the agreement of 40 countries and is now owned by 61 countries as well as the European Investment Bank and the European Union. It aims to finance operations that are both commercially viable and assist development in 29 countries in Eastern Europe, Central Asia and North Africa. It does this by providing loans, debt securities, equity investments, guarantees and technical assistance to micro- and small businesses via commercial banks and non-bank microfinance institutions (MFIs). In 2011, EBRD disbursed a total of EUR 6.7 billion (USD 8.3 billion).
Sources and Additional Resources:
EBRD. “Kosovo Sustainable Energy Projects (KOSEP) http://www.ebrd.com/pages/project/psd/2013/44794.shtml
MicroCapital. March 25, 2013. “MICROCAPITAL BRIEF: European Bank for Reconstruction and Development Plans to Invest $20m in Da Vinci Private Equity Fund II for Financial Infrastructure SMEs in Commonwealth of Independent States,” https://www.microcapital.org/microcapital-brief-european-bank-for-reconstruction-and-development-plans-to-invest-20m-in-da-vinci-private-equity-fund-ii-for-financial-infrastructure-smes-in-commonwealth-of-independent-states/
MicroCapital. March 12, 2013, “MICROCAPITAL BRIEF: EBRD Loan of $39m to UniCredit Bank Serbia for On-lending to Small and Medium-sized Enterprises Pending Final Approval,” https://www.microcapital.org/microcapital-brief-ebrd-loan-of-39m-to-unicredit-bank-serbia-for-on-lending-to-small-and-medium-sized-enterprises-pending-final-approval/
MicroCapital. February 14, 2013, “MICROCAPITAL BRIEF: European Fund for Southeast Europe (EFSE) Makes $643k Equity Buy into Kreditimi Rural I Kosoves of Kosovo,” https://www.microcapital.org/microcapital-brief-european-fund-for-southeast-europe-efse-makes-643kequity-buy-into-kreditimi-rural-i-kosoves-of-kosovo/
MicroCapital. January 10, 2012, “MICROCAPITAL BRIEF: European Fund for Southeast Europe Lends $24m to AccessBank of Azerbaijan, Kreditimi Rural I Kosoves of Kosovo, Byblos Bank Armenia, Alter Modus of Montenegro,” https://www.microcapital.org/microcapital-brief-european-fund-for-southeast-europe-lends-24m-to-accessbank-of-azerbaijan-kreditimi-rural-i-kosoves-of-kosovo-byblos-bank-armenia-alter-modus-of-montenegro/
MicroCapital Universe Profile: European Bank for Reconstruction and Development
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=European+Bank+for+Reconstruction+and+Development+%28EBRD%29
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