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Dec 06, 2017 18:50 EEST
PRISTINA (Kosovo), December 6 (SeeNews) – Kosovo's finance ministry said on Wednesday it signed two loan agreements worth 7.45 million euro ($8.82 million) in total with the German development bank KfW with the aim of increasing the capital of the Kosovo Credit Guarantee Fund (KCGF).
The loan will help KCGF improve financing of small and medium-sized enterprises (SMEs) and encourage youth employment, the finance ministry said in a press release.
The KCGF has disbursed more than 23 million euro to SMEs in various sectors of Kosovo's economy since it was established in January 2016, the ministry said.
The fund is a local, independent, sustainable credit guarantee facility issuing portfolio loan guarantees to financial institutions to cover up to 50% of the risk for loans to SMEs.
($ = 0.84407 euro)
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