EBRD aims to allocate 100m euros for Kosovo during 2023

Despite this expensiveness, B The ERZH aims for next year to invest 100m euros in Kosovo through financial instruments.

Business-advising programme manager Leonora Kusari, not showing how many percent would raise interest rates, has said that the expensive credit will definitely take place in the first months of 2023. This expensive EURZH bank credit is expected to happen as a result of Euribor's rise in the European market.
For most of the projects we've already contracted, there hasn't been a bank interest rate in 2022, but it doesn't mean that in 2023, according to the situation as we see it there might be an increase. So there is expected to be an increase in interest rates due to the growth rate in Euribor on the European market over the past six months. We don't know what that lift will be. That analysis is conducted by economists in the EURZH, but to see in January. However, there will be, of course,”, says Kusari.

She has also said that the EBRD has adopted strategy for the period 2023-2027, where the main focus is strengthening the private sector through the creation of new digitalisation, renewable energy, and regional integration instruments.

“BERZH in 2022 has managed to make investments worth 100m euros, of which 60 per cent are in the private sector. This means that most have gone through commercial banks, through financial instruments for small- and medium-sized enterprises, while 20m euros have financed Proex, direct investment in a corporation here. We have a strategy that we approved in 2022, which included the period 2023-2027, and that is where the main focus is for strengthening the private sector through the creation of new financial instruments, but also for the part of advice. Three themes are key on which we focus: digitization, renewable energy, and regional integration. So, on these topics it will be the focus for 2023”, it says for Kosova Preress.

Kusari adds that even for the year 2023, 100m euros are expected through three financial instruments, for support of women in business, for the Reboott Programme for More Modern Technology, and for the Young Programme in Business.

All instruments are regional for the entire Balkans, but we don't have specific quotas for that, it depends on the countries that have submitted larger demands. In 2022 it demonstrated that in Kosovo we have divided mostly, hopefully the same (100m euros) in 2023. There are three main instruments worth mentioning: women in business, the Reboott program for small- and medium-sized enterprises and investments in efficient energy or more contemporary technology, and we have the new business programme we just signed with the Bank for Business. We also have a fund called for the expansion of small- and medium-sized enterprises in the Balkans, of which the first investment that has been made, is the one with Proex. We hope to invest in companies like this”, she adds.

Among other things, Kusari has stressed that Kosovo has potential in all sectors, but adds that the EURZH will also have the information and technology sector focused.

“We do not share sectors, we think that the potential development in Kosovo is in all sectors. We will no doubt focus on the field of information and technology, which has started a major development in Kosovo. We think that in this sector, our assistance, whether through counseling or funding, is more necessary because commercial banks have no financial instruments to support them. TIK. But the sports sector, wood industry, metal processing, and food processing industry” are also not excluded, Kusari points out.

In 2022, about 500 Kosovo women have received technical assistance through microfinance institutions.