17 November 2016

KCGF Signed the Guarantee Agreements with Kosovo Banks

KCGF Signed the Guarantee Agreements with Kosovo Banks

The Kosovo Credit Guarantee Fund signed the guarantee agreements with almost all banks in Kosovo, including Raiffeisen Bank, Procredit Bank, NLB Bank, Banka per Biznes, TEB sh.a., Banka Ekonomike,and Banka Tregtare Kombëtare Dega në Kosovë. The agreement enable banks to obtain additional collateral security for business loans issued to micro, small, and medium enterprises (MSMEs) registered in Kosovo. Hence, providing easier access to finance for Kosovar companies.

The agreement aims to increase lending for Kosovar businesses, contribute to the job creation, economic growth, as well as, enhance opportunities for underserved economic sectors including women, minorities, farmers, and youth.

What is the procedure for businesses to benefit from the Fund?

Businesses will apply for a loan at a bank as usual, going through the bank’s procedures. If the value of the prospective borrower’s mortgage/collateral is not sufficient or other terms are not fully met, the bank may decide to qualify the business and issue the loan, using the KCGF guarantee. Businesses will not approach the KCGF to request the guarantee.

The signing ceremonies took place at the KCGF offices located at Anton Cetta Str. 5A in Pristina.