Quick Facts

Countries:
Where the impacts of the investment may be experienced.
  • Kosovo
Banks:
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
  • Netherlands Development Finance Company (FMO)
Status: Approved
Bank Risk Rating: B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Board Decision Date: 2016-02-05
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower or Client: Kreditimi Rural i Kosoves (KrK)
The holder of the loan, grant, or other investment.
Sectors:
The service or industry focus of the investment. A project can have several sectors.
  • Finance
Investment Type(s): Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD): $ 3.35 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.

Currency conversion note:
Bank reported EUR 3.00 MLN
Converted using 2016-02-05 exchange rate.
Loan Amount (USD): $ 3.35 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.

Currency conversion note:
Bank reported EUR 3.00 MLN
Converted using 2016-02-05 exchange rate.

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Primary Source

Original disclosure @ FMO website
Updated in EWS: 2018-01-25
KREDITIMI RURAL I KOSOVES LLC
FMO-45313

Project Description

According to FMO website, KrK has a clear rural focus with a large agricultural portfolio (>50 percent). Loans are predominately provided in economically disadvantaged communities to small farmers and entrepreneurs and the portfolio is devoted to micro-financing activities. KrK provides high quality services and loans for productive purposes, the institution contributes to the economic development of the country, especially considering the high unemployment rate. Land-locked in the Balkans and affected by recent war, Kosovo is the poorest nation in Europe, with a GDP per capita of US$8,000. By supporting KrK, FMO contributes access of finance to micro-entrepreneurs.

Investment Description

Kreditimi Rural i Kosoves (KrK) is a microfinance institution in Kosovo offering tailored loan products to farmers, traders, and micro and small businesses in rural areas. KrK is an existing client in which FMO invested equity. Over the last few years KrK has demonstrated an improving performance which FMO wishes to support with a new loan facility.

Contact Information

No contact information provided at the time of disclosure.