Project number:


Business sector:

Financial institutions

Notice type:


Environmental category:


Approval date:

18 Feb 2020



PSD disclosed:

14 Feb 2020

As per section 1.4.2 (iii) of the Directive on Access to Information: "For Projects approved by Bank management where the Board of Directors has delegated the approval authority, the PSD shall be disclosed at the start of the relevant no-objection notification period to a member country of the Bank in accordance with Article 13 (iii) of the Agreement Establishing the EBRD."

Project Description

Provision of a senior unsecured loan of up to EUR 3 million to be provided in two tranches (a first tranche of EUR 2 million and a second, uncommitted, tranche of EUR 1 million) under the Financial Intermediaries Framework ("FIF"). The loan will have a 3-year tenor, consisting of up to 1 year of grace period and 2 years for principal repayment. 

Project Objectives

The proceeds of the Bank's investment will be used to provide long-term funding to eligible MSMEs in Kosovo; the loan will support expansion of KRK's MSME lending and extend the maturity of the entity's liabilities.

Transition Impact

ETI score: 60

Competitive: The project supports KRK lending to private SMEs in Kosovo, where the gaps are Large, by a multiple of EBRD's funding. The project focuses on regional outreach and attraction of new SME clients.

Resilient: the project aims to ensure prudent lending practices and adequate portfolio quality.

Client Information


Kreditimi Rural i Kosoves, LLC ("KRK") is the third largest microfinance institution ("MFI") in Kosovo by gross loans and the only MFI currently organized as a limited liability company. Operating since 2000, KRK provides access to finance to low-income individuals in rural and urban areas of Kosovo, prioritizing the agricultural sector. KRK has a network of 26 branches across the country and 244 employees as of YE 2019. KRK has a strong shareholder base comprised of EFSE (42.2%), FMO (29.2%), SIDI (17.4%), and Credit Cooperatif (11.2%). Existing Exposure as of February 2020: EUR 2.4m. 

EBRD Finance Summary

EUR 3,000,000.00

Total Project Cost

EUR 3,000,000.00


  • Financing structure: the EBRD loan will provide much-needed term financing will help address issues of limited availability of medium- to long-term financing for non-deposit taking institutions in Kosovo.
  • Standard-setting: KRK will be required to comply with EBRD's Performance Requirements for FIs. All Sub-projects and Sub-borrowers will be required to comply with the eligibility criteria defined in the Policy Statement of FIF.

Environmental and Social Summary

Categorised FI (ESP 2019). KRK is an existing client and is in compliance with PRs 2, 4 and 9, verified by reviewing the latest SI report for 2018. KRK will be required to continue to comply with the EBRD's Environmental and Social Risk Management Procedures for Micro, SME and Corporate Loans, as well as the applicable PRs, and submit annual E&S reports to the Bank.

Technical Cooperation and Grant Financing


Company Contact Information

Burbuqe Berisha

PSD last updated

14 Feb 2020

Understanding Transition

Further information regarding the EBRD’s approach to measuring transition impact is available here.

Business opportunities

For business opportunities or procurement, contact the client company.

For business opportunities with EBRD (not related to procurement) contact:

Tel: +44 20 7338 7168

For state-sector projects, visit EBRD Procurement:

Tel: +44 20 7338 6794

General enquiries

Specific enquiries can be made using the EBRD Enquiries form.

Environmental and Social Policy (ESP)

The ESP and the associated Performance Requirements (PRs) set out the ways in which the EBRD implements its commitment to promoting “environmentally sound and sustainable development”.  The ESP and the PRs include specific provisions for clients to comply with the applicable requirements of national laws on public information and consultation as well as to establish a grievance mechanism to receive and facilitate resolution of stakeholders’ concerns and grievances, in particular, about environmental and social performance of the client and the project. Proportionate to the nature and scale of a project’s environmental and social risks and impacts, the EBRD additionally requires its clients to disclose information, as appropriate, about the risks and impacts arising from projects or to undertake meaningful consultation with stakeholders and consider and respond to their feedback.

More information on the EBRD’s practices in this regard is set out in the ESP.

Integrity and Compliance

The EBRD's Office of the Chief Compliance Officer (OCCO) promotes good governance and ensures that the highest standards of integrity are applied to all activities of the Bank in accordance with international best practice. Integrity due diligence is conducted on all Bank clients to ensure that projects do not present unacceptable integrity or reputational risks to the Bank. The Bank believes that identifying and resolving issues at the project assessment approval stages is the most effective means of ensuring the integrity of Bank transactions. OCCO plays a key role in these protective efforts, and also helps to monitor integrity risks in projects post-investment.

OCCO is also responsible for investigating allegations of fraud, corruption and misconduct in EBRD-financed projects. Anyone, both within or outside the Bank, who suspects fraud or corruption should submit a written report to the Chief Compliance Officer by email to All matters reported will be handled by OCCO for follow-up. All reports, including anonymous ones, will be reviewed. Reports can be made in any language of the Bank or of the Bank's countries of operation. The information provided must be made in good faith.

Access to Information Policy (AIP)

The AIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations following its entry into force on 1 January 2020. Please visit the Access to Information Policy page to find out what information is available from the EBRD website.

Specific requests for information can be made using the EBRD Enquiries form.

Independent Project Accountability Mechanism (IPAM)

If efforts to address environmental, social or public disclosure concerns with the Client or the Bank are unsuccessful (e.g. through the Client’s Project-level grievance mechanism or through direct engagement with Bank management), individuals and organisations may seek to address their concerns through the EBRD’s Independent Project Accountability Mechanism (IPAM).

IPAM independently reviews Project issues that are believed to have caused (or to be likely to cause) harm. The purpose of the Mechanism is: to support dialogue between Project stakeholders to resolve environmental, social and public disclosure issues; to determine whether the Bank has complied with its Environmental and Social Policy or Project-specific provisions of its Access to Information Policy; and where applicable, to address any existing non-compliance with these policies, while preventing future non-compliance by the Bank.

Please visit the Independent Project Accountability Mechanism webpage to find out more about IPAM and its mandate; how to submit a Request for review; or contact IPAM  via email to get guidance and more information on IPAM and how to submit a request.


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