April 13 (SeeNews) - The European Bank for Reconstruction and Development (EBRD) said on Wednesday it has approved two loans totalling 3 million euro ($3.2 million) to Kosovo's microfinance institution Kreditimi Rural i Kosoves (KRK) to support local micro, small and medium-sized enterprises (MSMEs).
The first loan, of 1 million euro, will be used for on-lending to eligible women-led MSMEs, the EBRD said in a project summary document.
The second loan, of 2 million euro, will help KRK expand its lending to other MSMEs, with a focus on regional outreach and attraction of new MSME clients, the EBRD said in a separate project summary document.
Both loans will be provided in two equal tranches.
KRK is a microfinance institution focusing on rural areas of Kosovo.
($ = 0.9239 euro)