Requirements for MSMEs to qualify for financing under the guarantee include, but not limited to:
- Privately owned MSMEs, with no government ownership during the period of the credit guarantee coverage.
- MSMEs that have business registration and fiscal numbers.
- An eligible borrower must be at least (50%) owned by private citizens or permanent residents of Kosovo,
- MSMEs that have less than 250 employees,
- Private micro, small and medium enterprises (MSMEs), as defined in the LKCGF, which are not prohibited by applicable legislation, regulatory provisions, or international treaties to which Kosovo is a party.
- An eligible borrower includes any related party of the borrower in question, as defined in the LKCGF.
PROHIBITED CREDIT SECTORS AND PURPOSES
1. Forced labour or child labour;
2. Activities or materials deemed illegal under the laws or regulations of the host country or international conventions and agreements, or subject to international phase-outs or bans, such as:
2.1 ozone depleting substances, PCB’s (Polychlorinated Biphenyls) and other specific, hazardous pharmaceuticals, pesticides/herbicides or chemicals;
2.2 wildlife or products regulated under the Convention on International Trade in Endangered Species or Wild Fauna and Flora (CITES); or
2.3 unsustainable fishing methods (e.g., blast fishing and drift net fishing in the marine environment using nets in excess of 2.5 km in length).
3. Cross-border trade in waste and waste products, unless compliant with the Basel Convention and the underlying regulations.
4. Destruction of High Conservation Value areas.
5. Radioactive materials and unbounded asbestos fibres.
6. Pornography and/or prostitution.
7. Racist and/or anti-democratic media.
8. In the event that any of the following products form a substantial part of a project’s primary financed business activities:
8.1 alcoholic beverages (except beer and wine);
8.2 tobacco;
8.3 weapons and munitions; or
8.4 Gambling, casinos and equivalent enterprises.
9. IT Sector Restrictions: research, development or technical applications relating to electronic data programs or solutions, which aim specifically at/or which:
9.1 supporting any activity included in the Restricted Sectors referred to under 2. and 8. (inclusive) in the top;
9.2 internet gambling and online casinos;
9.3 pornography,
9.4 are intended to enable to illegally:
9.5 enter into electronic data networks; or
9.6 download electronic data.
10. Life Science Sector Restrictions: When providing support to the financing of the research, development or technical applications relating to:
10.1 human cloning for research or therapeutic purposes; and
10.2 genetically Modified Organisms (“GMOs”),
Forced labor means all work or service, not voluntarily performed, that is extracted from an individual under threat of force or penalty as defined by ILO conventions.
Persons may only be employed if they are at least 14 years old, as defined in the ILO Fundamental Human Rights Conventions (Minimum Age Convention C138, Art. 2), unless local legislation specifies compulsory school attendance or the minimum age for working. In such cases the higher age shall apply.
Destruction means the [1] elimination or severe diminution of the integrity of an area caused by a major, long-term change in land or water use or (2) modification of a habitat in such a way that the area’s ability to maintain its role is lost. High Conservation Value (HCV) areas are defined as natural habitats where these values are considered to be of outstanding significance or critical importance (See http://www.hcvnetwork.org).
This does not apply to the purchase of medical equipment, quality control (measurement) equipment or any other equipment where the radioactive source is understood to be trivial and/or adequately shielded.
For companies, “substantial” means more than 10 % of their consolidated balance sheets or earnings. For financial institutions and investment funds, “substantial” means more than 10% of their underlying portfolio volumes.
Forced labor means all work or service, not voluntarily performed, that is extracted from an individual under threat of force or penalty as defined by ILO conventions.
Persons may only be employed if they are at least 14 years old, as defined in the ILO Fundamental Human Rights Conventions (Minimum Age Convention C138, Art. 2), unless local legislation specifies compulsory school attendance or the minimum age for working. In such cases the higher age shall apply.
Destruction means the (1) elimination or severe diminution of the integrity of an area caused by a major, long-term change in land or water use or (2) modification of a habitat in such a way that the area’s ability to maintain its role is lost. High Conservation Value (HCV) areas are defined as natural habitats where these values are considered to be of outstanding significance or critical importance (See http://www.hcvnetwork.org).
This does not apply to the purchase of medical equipment, quality control (measurement) equipment or any other equipment where the radioactive source is understood to be trivial and/or adequately shielded.
For companies, “substantial” means more than 10 % of their consolidated balance sheets or earnings. For financial institutions and investment funds, “substantial” means more than 10% of their underlying portfolio volumes.