The proposed investment is an IFC senior debt investment of up to EUR8 million to Kreditimi Rural i Kosoves LLC, a leading microfinance institution in Kosovo. The investment will be shared equally between IFC’s own account and concessional financing provided by the Global Agriculture & Food Security Program. The proceeds from the proposed investment will be used for on-lending to individual entrepreneurs and micro-businesses in Kosovo, including smallholder farmers, microenterprises, women-owned small businesses and entrepreneurs operating in the agriculture sector and underserved rural areas. The project fits IFC’s and GAFSP’s strategy by directly supporting investment in micro and small enterprises and agribusiness in Kosovo.
The IFC categorized the project as FI-3.
From the IFC's website:
Headquartered in Pristina, KRK is Kosovo’s third largest MFI and offers financial services to microenterprises, with a dedicated focus to agri-borrowers. KRK was first established in 2000 as an NGO credit fund licensed by the central bank and then subsequently transformed to a limited liability company on 13 May 2003.
The shareholders as of December 2022 are the European Fund for Southeast Europe (EFSE), 42%; the Dutch Entrepreneurial Development Bank (FMO), 29%; International Solidarity for Development and Investment (SIDI), 17% ; and Crédit Coopératif, 11%.
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