(BRIEF) The European Bank for Reconstruction and Development (EBRD) has launched its first Growth Guarantee Fund (G4G), providing Raiffeisen Bank Kosovo with a guarantee of up to €20 million for 3 years, related to the bank’s national sovereign debt. bond portfolio. This initiative aims to finance opportunities for micro, small and medium-sized enterprises (MSMEs) in Kosovo, focusing on supporting the local economy. A significant percentage of the program’s secondary loans, at least 20%, will go to the green economy. transition projects (GETs), energy sales and resource efficiency. Raiffeisen Bank, Kosovo’s largest bank, is committed to advancing the transition to a greener economy and encourages MSMEs to leverage this cutting-edge monetary tool for their growth.
(PRESS RELEASE) LONDON, January 12, 2024 — /EuropaWire/ — In a cutting-edge move, the European Bank for Reconstruction and Development (EBRD) is offering its first Growth Guarantee Fund (G4G) to Raiffeisen Bank in Kosovo, with the aim of expanding financing for micro, small and medium-sized enterprises (MSMEs).
The EBRD guarantee of up to €20 million will be provided over 3 years and will be connected to the bank’s domestic sovereign bond portfolio. The increased risk-taking capacity freed up through the guarantee will allow Raiffeisen Bank to dedicate new budget to Kosovar companies, thus expanding its position for the genuine economy.
Raiffeisen Bank’s lending under the programme will focus on supporting local MSMEs, which are vital to the sustainable growth of Kosovo’s economy. At least a fifth of the subloans will be dedicated to Green Economy Transition (GET) projects such as energy and resource efficiency.
Sergiy Maslichenko, EBRD Country Director in Kosovo, said: “The EBRD is committed to further supporting private sector progress by financing MSMEs and the green transition through this state-of-the-art guarantee instrument.
Anita Kovacic, Chief Executive Officer of Raiffeisen Bank in Kosovo, added: “As the largest bank in the country, we strongly support the transition towards a greener economy in Kosovo. We are pleased to see that our commitment has been boosted through our signing of this important agreement with the EBRD. We are grateful to the EBRD for this partnership and invite MSMEs to take advantage of this innovative financial instrument.”
Raiffeisen Bank is the largest bank in Kosovo with a loan market share of 20% at the end of June 2023. It offers a full range of products to individuals, MSMEs and businesses, with a network of 36 branches and more than 900 employees throughout Kosovo. .
To date, the EBRD has invested more than €650 million in Kosovo, 68 per cent of which has been in the sector.
Media Contact:
SOURCE: EBRD
MORE ABOUT THE EBRD, ETC. :EBRD grants €29 million for renewable energy projects in PolandEBRD commits €100 million to Taaleri SolarWind III fund for renewable energy projectsEBRD grants $10 million loan to Atameken-Agro for agricultural modernization and improving the environment in KazakhstanSustainable heating for the Kosovo circle of relatives Travel: a green investment with the EBRDThe EBRD partners with Eskhata Bank for Tajik corporations with loans of $5 million. EBRD and EU partner with ProCredit Bank to encourage Georgian MSMEs with $10 million loan for green investments EBRD Turkish steel smelting company Kutes in its transition to sustainable energy with dangers -Agreement shareThe EBRD launches a €200 million program for young marketers to breathe life into marketing in Central AsiaThe EBRD launches a joint venture framework with ProCredit Bank Kosovo to breathe life into SME financing and sustainabilityThe EBRD makes record investments of €13. 1 billion in 2023, focusing on green economy and crisis response
EuropaWire (EW) is the first truly pan-European and leading press release distribution and newswire service for Europe and the European Union working towards consolidating Europe’s voice on the global newswire and media scene. The newswire service comes with advanced submission forms, flexible pricing and PR budgeting, granular targeting, nearly uncapped reach across countries, markets, verticals, industries, audiences, languages, etc., translation and localisation for greater local PR impact, in-depth distribution reporting, metrics and insights including measured PR reach, reads, engagements, impact, etc., no cap on words, images and multimedia to go along with your release, among others. Your press releases will be seen among the releases of Europe’s biggest and most prominent companies, brands and institutions.
HOW TO GET STARTED?