The UK-based European Bank for Reconstruction and Development (EBRD) is providing Kreditimi Rural i Kosoves (KrK), a Kosovar microfinance institution, with a loan of EUR 2 million (USD 2.3 million) for onlending to micro-, small and medium-sized enterprises (MSMEs).
EBRD also loaned KrK EUR 2 million (USD 2.3 million) in 2017 to support environmentally-aware initiatives in line with the EBRD’s “Green Economy Transition” approach, which was launched in 2015.
KRK was established in 2000 to assist farmers and other rural microentrepreneurs in restoring production capacity lost during the Kosovo war of 1998 and 1999. From 24 branches, the institution offers products such as agricultural and business loans to micro- and small enterprises (MSEs) as well as home-improvement loans to private individuals. As of 2017, KRK reported to the US-based nonprofit Microfinance Information Exchange (MIX) total assets of USD 35.2 million, a gross loan portfolio of USD 32.6 million and 12,000 borrowers. The institution does not accept deposits.
EBRD, which began operations in 1991, is headquartered in London. It is owned by 65 countries as well as the European Investment Bank and the EU. The organization provides loans, debt securities, equity investments and technical assistance to micro-, small and medium-sized businesses via commercial banks and microfinance institutions. During 2017, EBRD invested EUR 9.7 billion (USD 11 billion) in projects spanning 67 countries, and it reported total assets of EUR 56 billion (USD 66 billion) as of December of that year.
By Michelle Fleming, Research Associate
Sources and Additional Resources
EBRD press release
https://www.ebrd.com/news/2018/ebrd-lends-2m-to-kosovo-microfinancier-krk-for-onlending-to-msmes-.html
EBRD homepage
https://ebrd.com
MICROCAPITAL BRIEF: EBRD Loans $2.3m to Kreditimi Rural i Kosoves (KRK) to Support Green Economy Kosovo
https://www.microcapital.org/microcapital-brief-ebrd-loans-2-3m-kreditimi-rural-kosoves-krk-support-green-economy-kosovo/
MICROCAPITAL BRIEF: EBRD’s “Trade Ready” Program to Bring Finance, Business Advice to SMEs in Serbia
https://www.microcapital.org/microcapital-brief-ebrds-trade-ready-program-to-bring-finance-business-advice-to-smes-in-serbia/
MIX Krk
https://www.themix.org/mixmarket/profiles/krk-ltd
Do you know that MicroCapital publishes the MicroCapital Monitor newspaper each month? Find out more at https://www.microcapital.org/products-page/.
Similar Posts:
- MICROCAPITAL BRIEF: EBRD Loans $4.4m to KEP Trust of Kosovo with Focus on Rural, Women-led MSMEs
- MICROCAPITAL BRIEF: Reefy Microfinance Borrows $6.5m from EBRD for Youth-led MSMEs in Egypt
- MICROCAPITAL BRIEF: EBRD Loans KICB $7m for MSME Financing in Kyrgyzstan
- MICROCAPITAL BRIEF: EU Guaranteeing $113m to Support $490m in Lending by EBRD to MSMEs in Eastern Europe, North Africa, Western Asia
- MICROCAPITAL BRIEF: Uzpromstroybank (UzPSB) Borrowing $15m from EBRD for SMEs in Uzbekistan
