EBRD Youth in Business programme launches in Kosovo – Banka për Biznes becomes first partner bank for programme in the Western Balkans
Representatives from BPB and EBRD have signed an agreement for the launch of the program ‘Youth in Business’, the first of its kind to be launched in Kosovo.
A €4.5 million loan will be provided to Banka për Biznes in Kosovo, which will on-lend the funds to local companies that are owned or managed by young entrepreneurs, and which are likely to be early-stage or micro companies and second generation businesses.
The agreement, signed in Prishtina by Mark Bowman, EBRD Vice President for Policy and Partnerships: “We are very pleased to work once again with our long-standing partner Banka për Biznes, this time supporting Kosovo’s dynamic young entrepreneurs. Kosovo needs to create more opportunities at home for its educated young workforce. Providing better access to finance and advice for its young entrepreneurs will help retain talent and boost the economy.”
Artan Sadiku, Acting CEO of Banka për Biznes, said: “BPB is privileged to have reached an exclusivity agreement with the EBRD to introduce the Youth in Business Programe in Kosovo. Our long-term partnership with the EBRD has resulted in yet another project, this time aimed at increasing entrepreneurship in Kosovo while supporting young owners of micro and small enterprises. The programme is in line with BPB’s strategy, especially our dedication to provide non-financial services to the MSME sector. We believe that our wholesome approach towards this sector – that is, providing not only financing but also training and other non-financial services – will ensure long and trusted relationships with our clients.”
Swedish government will support the program with a grant of 3.5 million euros assist local partner banks to enhance their capacities and develop new financial instruments to help youth owners to further develop their businesses
Present during the ceremony were representatives of the Swedish Embassy in Kosovo.