In support of young entrepreneurs - EBRD offers 4.5 million euros to help businesses in Kosovo
The European Bank for Reconstruction and Development (EBRD) is providing a €4.5 million loan to the Bank for Business (BpB) in Kosovo, with the aim of expanding access to finance for young entrepreneurs in the country.
The loan is provided under the “Youth in Business” (YiB) program for the Western Balkans and aims to support micro, small and medium-sized enterprises that are owned or managed by people under the age of 35. This agreement builds on the success of the first loan between the parties, signed in September 2022.
The program aims to address the many barriers faced by young people in entrepreneurship, including lack of collateral, limited credit history, and lack of experience.
The loan is supported by the European Union through the EFSD+ Growth4All program, which provides risk coverage for loans to young entrepreneurs. Thanks to the EU guarantees, Banka për Biznes will be able to direct more funds to small and medium-sized businesses led by young people, while also offering them advisory services, networking opportunities and financial products tailored to their needs.
Additional technical support to strengthen the capacities of the Business Bank and improve services for new businesses is being provided by Sweden, Italy, Luxembourg and the EU through the EFSD+ program.
The “Youth in Business” program is active in Central Asia, Egypt, Morocco, Turkey and the Western Balkans. It aims to facilitate access to finance for businesses in all EBRD beneficiary countries. To date, the EBRD has invested €827 million in Kosovo through 133 projects.
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