PRISTINA (Kosovo), December 8 (SeeNews) – The European Bank for Reconstruction and Development (EBRD) said on Tursday it is providing a 5.0 million euro ($5.4 million) loan to Kosovo's TEB Bank to support women entrepreneurs in the country.
"The funds will be on-lent to women-led small and medium-sized enterprises (SMEs)," the EBRD said in a statement posted on its website.
The loan is provided under the bank’s Women in Business programme for the Western Balkans.
TEB has a network of 26 branches in Kosovo.
The EBRD Women in Business programme was created to strengthen the role of women in the economy and to date has been rolled out successfully in 25 countries where the bank invests. It provides access to finance through credit lines to local banks as well as business advice, training and support for women entrepreneurs and women-led enterprises.
The programme combines financing, technical assistance, risk mitigation in the form of first-loss cover for local financial institutions and business advisory services to support women-led SMEs. Technical assistance and advisory services are jointly funded by the EBRD and the governments of Luxembourg and Sweden.
($=0.9297 euro)
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