World Bank representative to Kosovo: Motor for small economy is private sector in Kosovo

World Bank representative in Kosovo Marco Montavanelli said the World Bank has supported small and medium-sized enterprises in the Western Balkans until it voiced its pledge that such support will continue.

According to him, the engine of small economies like this of Kosovo is the private sector, so he said that through this workshop, opportunities are being provided to increase the knowledge of alternative sources for private sector financing.

World Bank representative stressed competitiveness project for NVNM provides access to financing and access to legislation regulation and increased inspections.

“We know that financing by means of net equity or capital at the moment provides limited options in the Western Balkans, but we also have reason to believe that it is on the rise and that in the future it can even become a much more important source of financing for private sector development in comparison to today...0515 Today the World Bank continues to remain committed to strengthening the private sector's capacities in the region and Kosovo in particular we are aware that small economies need the vital private sector which is able to produce and export, to expand your markets. And one of the options is access to finance and there are other dimensions, and we as the World Bank try as hard as we can to concentrate our capacities and resources to help”, he said.

The representative of the European Commission Office in Kosovo, Vadim Delleu, said this workshop aims to improve access to finance for small and medium-sized enterprises.

He said the project for “The authenticity of the Western Balkans for Private Equity Investment” has been financed by the European Union with 3.5m euros.

Dellou speaking of the European Union's DEDIF project said 4 thousand companies have been funded through this project in the Western Balkans, generating 10,000 new jobs.

This project offers Kosovo assistance to bring Kosovo's legislation to akin of the European Union and the best international practices in financial transparency, financial information, financial production, financial production, which are key elements for access to stock capital and other species capitals....1055. MDIF is an initiative that was launched in 2012 in order to improve funding NMVM in the region is the only investment platform that takes into account the expertise of experts from 27 different EU countries... The EU has invested some 150 million on this wide platform now that it has mobilised 700 million for financing of various companies for NMVM in general”, he said.

At this teaching event about access to finance from the private sector present were representatives from small and medium-sized businesses in Kosovo.