Kosovo Rural Credit (KRK), is a microfinance institution in Kosovo, which will benefit from a loan of 10 million euros from IFC.
IFC is one of KRK's best partners. Through cooperation with IFC, KRK has enabled the financing of many women-owned businesses and underserved small and medium enterprises in Kosovo.
IFC's lending will further support women-owned businesses and small and medium-sized enterprises, particularly with the aim of financing investments that will increase the competitiveness of women-owned businesses and local small and medium-sized enterprises in domestic and regional markets.
“KRK is proud to partner with IFC to expand access to finance for underserved clients across Kosovo, particularly in the rural and agricultural sectors,” said Lulzim Sadrija, KRK Executive Director. “With a strong national presence and commitment to high social and environmental standards, this collaboration will help us deepen our impact and better serve communities with limited access to financial services.”
Micro, small and medium-sized enterprises represent more than 90 percent of all companies in Kosovo. Better access to finance will allow women-owned businesses and small and medium-sized enterprises to expand beyond the domestic market.
“This investment will support Kosovo in closing the financing gaps for small and medium-sized enterprises, specifically for small farmers and women-owned businesses,” said Visar Perani, IFC Country Officer for Kosovo and North Macedonia. “By helping to expand access to tailored financial products, we can support the country’s efforts to increase the competitiveness of its financial sector and boost economic growth.”
Kosovo Rural Credit is the third largest microfinance institution in Kosovo and is owned by the European Fund for South East Europe (EFSE), the Dutch development bank Nederlandse Financierings-Maatschappij voor Ontwikkelingsladen (FMO), the French development company Solidarité Internationale pour le Développement et l'SIDI, and the Helenos company.
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