6 hours agoTEB and IFC sign agreement for small- and medium-sized enterprises
Periskopi(6 years ago)
(6 years ago)Supporting Kosovo businesses from this deal included all small and medium-sized enterprises, agro businesses and those from the Women's Undertaking Programme. The TEB U.S. Bank and the financial institution of the World Bank, the IFC, have reached co-operation agreements under the 10 million-euro risk sharing to support credit [...]
The TEB U.S. Bank and the financial institution of the World Bank, the IFC, have reached co-operation agreements under the 10 million-euro risk sharing to support the credit of small- and medium-sized enterprises (NVM), even those in the agribusiness and entrepreneurial women sector.
Under the agreement reached under the IFC programme, the Small Credit Guarantee Programme (SLGP) is about empowering financial institutions' capacities in low-income countries.
Under this programme, TEB has provided access to funds for small and medium enterprises and various non-financed financial services to build the capacities of this business profile.
Bank Deputy Manager TEB, Dren Krypa said the Bank's respective departments will provide adequate support, as well as in the past for NVMs.
“The TEB will continue to provide solution and financing for NVMs, with the goal of dictating them and will continue supporting new ideas in the market”, Krypa said. This IFC risk sharing partnership is a valuable tool in supporting and increasing the sector of small- and medium-sized enterprises in Kosovo, especially for women undertaken”.
The IFC as a member of the World Bank is the largest global private sector development institution, operating in more than 100 capital, expert and influential countries.
Vittorio Di Bello, regional leader for Europe and Central Asia under the group of financial institutions in the IFC, praised co-operation especially at the time we are going through.
“We are glad to have expanded co-operation with TEB U.S. and the support we're giving to NVMs, enabling entrepreneurs to create and increase their operations. This is particularly important in these extraordinary times that business has been hampered by the global explosion of COVID-19”, he said. “The IFC believes this risk sharing opportunity will help preserve and create new jobs, in the market proving the importance of NVMs with women's property and agribusiness”.
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