BKT Kosovo secures €22m loans from EFSE and GGF

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PRISTINA (Kosovo), September 12 (SeeNews) – The European Fund for South Eastern Europe (EFSE) and the Green Growth Fund (GGF) have granted a total of 22 million euros (22.3 million dollars) of loans to Kosovar lender Banka Kombetare Tregtare (BKT Kosovo) in support of local micro, small and medium-sized enterprises (MSMEs), the Luxembourg funds said.

EFSE has provided a €15 million loan to BKT Kosovo to provide sustainable financing to MSMEs, as well as to help the bank increase its agricultural lending, particularly for rural farmers in Kosovo, the fund announced in a press release on Friday.

GGF provided a €7 million subordinated loan to BKT Kosovo to increase its energy and resource efficiency lending in urban and semi-urban areas of Kosovo to MSMEs, individuals and renewable energy projects, a GGF said in a separate statement on Monday.

Under the loan agreement with GGF, BKT Kosovo will also benefit from technical assistance which aims to strengthen the sustainability of BKT’s core business activities, improve its environmental and social management system and strengthen its green lending capabilities. , added GGF.

EFSE was established in 2005 on the initiative of the German Development Bank KfW with financial support from the German Federal Ministry for Economic Cooperation and Development (BMZ) and the European Commission (EC). The fund aims to foster economic development and prosperity in South Eastern Europe and the Eastern Neighborhood region by investing in micro and small businesses as well as improving the living conditions of private households.

GGF was launched as a public-private partnership in December 2009 by the KfW Development Bank and the European Investment Bank, with financial support from the EC, the German Federal Ministry for Economic Cooperation and Development, the European Bank for Reconstruction and Development (EBRD), and Austrian Development Bank (OeEB). The fund invests in measures designed to reduce energy consumption and CO2 emissions and improve resource efficiency in markets in South Eastern Europe, the Caucasus, Ukraine, Moldova, the Middle East and North Africa.

($ = 0.9863 euros)

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