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EBRD allocates €3m loan to New Bank of Kosovo

The European Bank for Reconstruction and Development (EBRD) and the Italian Government allocated yesterday a loan of €3 million to the New Bank of Kosovo to enable this bank to finance small and medium sized enterprises (SMEs).

Representatives of EBRD and UNMIK Pillar IV said this loan contributes to building a sector, which is the main booster of economic development in Kosovo. “This is very important, since Kosovo’s economy needs a sustainable banking system,” said Giulio Moreno from EBRD.

TVs and dailies quote UNMIK Pillar IV Head Paul Acda as saying that this agreement shows the level of trust international banks have in Kosovo. “This will help the creation of a sustainable macro economy,” said Acda.

Claudio Vizek from EBRD said: “We had a fantastic year between EBRD and Kosovo. This is the fourth contract we are signing this year. Two contracts with Kasabank have already been signed and now two with the New Bank of Kosovo.”

Kosovo President Fatmir Sejdiu highly appreciated the EBRD’s aid to Kosovo’s banking system. “The World Bank, IMF, and other institutions, such as EBRD, play an important role in creating a sustainable economy in Kosovo,” said Sejdiu.

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Background information for foreign investors

Kosovo: General Information
Kosovo: Key economic indicators
Why do business in Kosovo?
Legal Framework in Kosovo
KTA and Privatisation in Kosovo

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Company Foundation, Taxes and Employment Law in Kosovo
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