KRK Senior Loan II (IFC-39206)

  • Kosovo
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Mar 30, 2018
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Kreditimi Rural I Kosoves LLC
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 4.24 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Loan Amount (USD)
$ 4.24 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Aug 26, 2018

Disclosed by Bank Feb 16, 2017

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to IFC website, the project consists of a senior loan of up to EUR4 million, to Kreditimi Rural i Kosoves (KRK) for on-lending to individual, micro and small enterprises (MSEs) in Kosovo. KRK is an IFC investment client since August 2015 when IFC committed a senior loan of EUR1.5 million. The Company is a leading lender to micro and small enterprises in Kosovo with a special focus to agriculture and agriprocessing (with close to 50% of the loans and 60% of the clients). By continuing engagement with KRK the project seeks to further build a solid platform to expand financing to individuals and entrepreneurs in rural and sub-urban areas, typically underserved by traditional commercial banks. The expected development impacts of the project are:

1. Stimulate access to financing to individuals, micro and small enterprises as a key contributor to country's economy
2. Create job opportunities for entrepreneurs and individuals in the rural area, including women, with direct impact to poverty reduction
3. Serve as demonstration effect to other MFIs in introducing best practices in insurance, environment and social systems

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

Kreditimi Rural i Kosoves (KRK), formerly known as the Rural Finance Project of Kosovo, is a microfinance institution that aims to assist farmers, rural and semi urban micro-entrepreneurs in restoring and developing production capacity and establishing a sustainable, community-based rural credit scheme. Rural Finance Project of Kosovo was established in the year 2000, as an NGO credit fund licensed by the Central Bank of Kosovo. In 2004, KRK was transformed to a Limited Liability Company. Current shareholding of the company include: The European Fund for Southeast Europe (EFSE) - 42.2%; Nederlandse Financierings-Maatschappijvoor Ontwikkelingslanden NV (FMO) - 29.3%; Crédit Coopératif - 11.2%; and SIDI, (Solidarité Internationale pour le Développement et l'Investissement) - 17.4%.

Financial Intermediary
A financial intermediary is a bank or financial institution that receives funds from a development bank. A financial intermediary then lends these funds to their clients (private actors) in the form of loans, bonds, guarantees and equity shares. Financial intermediaries include insurance, pension and equity funds. The direct financial relationship is between the development bank and the financial intermediary.
Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

Kreditimi Rural i Kosoves (KRK), formerly known as the Rural Finance Project of Kosovo, is a microfinance institution that aims to assist farmers, rural and semi urban micro-entrepreneurs in restoring and developing production capacity and establishing a sustainable, community-based rural credit scheme. Rural Finance Project of Kosovo was established in the year 2000, as an NGO credit fund licensed by the Central Bank of Kosovo. In 2004, KRK was transformed to a Limited Liability Company. Current shareholding of the company include:  The European Fund for Southeast Europe (EFSE) - 42.2%; Nederlandse Financierings-Maatschappijvoor Ontwikkelingslanden NV (FMO) - 29.3%; Crédit Coopératif - 11.2%; and SIDI, (Solidarité Internationale pour le Développement et l'Investissement) - 17.4%.

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Project Contact: Lulzim Sadrija
CEO, Kreditimi Rural i Kosoves
Telephone No.: +381 38 222 345
Email Address:
Office Address: Rr. Rexhep Mala No. 4, Pristina, Kosovo


The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at You can learn more about the CAO and how to file a complaint at

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