KS MFI Loan AFK (IFC-41012)

  • Kosovo
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
Bank Risk Rating
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Feb 12, 2018
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
The holder of the loan, grant, or other investment.
  • Agriculture and Forestry
  • 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, etc.
Investment Amount (USD)
$ 1.22 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported 1
Converted using 2018-01-12 exchange rate.
Primary Source

Original disclosure @ IFC website

Updated in EWS Aug 6, 2018

Disclosed by Bank Jan 12, 2018

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Project Description

This project provides financing to Agency for Finance in Kosovo, a leading micro-finance institution in Kosovo, for lending to micro and small enterprises. This includes micro agricultural farms and very small agri-processing companies.

Investment Description
Financial Intermediary
Financial Intermediary: A commercial 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

Agency for Finance in Kosovo is one of the leading microfinance institutions (MFI) in Kosovo, a fragile and conflicted state (FCS) and IDA country, to support expansion of its lending program to domestic individuals, micro and small enterprises including  micro agricultural farms and very small agri-processing companies.

The Agency for Finance in Kosovo was founded in 1999 as a small enterprise development program by Mercy Corps (a US-based Non-Governmental Organization) in the framework of post conflict relief and became a NGO a few years later. AFK undergone a transition into a local finance institution as a Non-Bank Financial Institution in 2000 and was registered as Microfinance Institution in 2011, keeping the legal form as NGO since 2000. As of today, AFK is the fourth largest MFI in the country with a market share of 17% in terms of loan portfolio.

Contact Information

Agency for Finance in Kosovo
Mehribane Shala
Finance Manager
Street: Lidhja e Prizrenti 1, 30000 Peje, Republic of Kosovo

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