Raiffeisen Bank with €1m for SMEs in Kosovo

Prishtinë, 21 July, 2006 – The European Bank for Reconstruction and Development (EBRD) has allocated a loan of € 1 million to Raiffeisen Bank Kosovo following the allocation of a €10 million loan from EBRD, TVs and dailies in Kosovo reported.

The loan is part of the financial assistance for Western Balkans, for small and medium enterprises (SMEs).

“The issue of loans in Kosovo has always been a problem. This agreement will help Raiffeisen Bank serve SMEs clients. We have so far allocated € 119 million to 3,800 clients,” stated Gary Moinette, Raiffeisen Bank Board Official.

“The idea is to co-finance the project with commercial banks,” stated EBRD representative Giulio Moreno.

The loan will enable Raiffeisen Bank of Kosovo to give loans for 3-5 years and fund local businesses to the amount of € 250,000. EBRD officials said that this bank has given loans to Kasabank, supported Prishtina Airport and privatised enterprises.