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Project number:


Business sector:

Financial institutions

Notice type:


Environmental category:


Approval date:

05 Apr 2022



PSD disclosed:

13 Apr 2022

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

A senior unsecured loan of up to EUR 2 million to be provided in two equal tranches under the Financial Intermediaries Framework ("FIF"). 

Project Objectives

The Loan proceeds will be used for on-lending to private micro-, small and medium sized enterprises ("MSMEs") in Kosovo in accordance with the Policy Statement.

Transition Impact

ETI score: 60

The project contributes to the objectives of the FIF, supporting the Transition Impact qualities of Competitive and Resilient:

Competitive: the project will expand KRK's lending to private MSMEs in Kosovo, with a focus on regional outreach and attraction of new MSME clients.

Resilient: KRK is expected to maintain adequate MSME portfolio quality.

Client Information


Kreditimi Rural i Kosoves, LLC ("KRK") is the third largest microfinance institution  in Kosovo by gross loans and the only MFI currently organised as a limited liability company. Operating since 2000, KRK provides access to finance to low-income individuals in rural and urban areas of Kosovo, prioritising the agricultural sector. KRK has a network of 27 branches across the country and around 250 employees. KRK has a strong shareholder base comprised of EFSE (42.2%), FMO (29.2%), SIDI (17.4%), and Credit Cooperatif (11.2%).

EBRD Finance Summary

EUR 2,000,000.00

Total Project Cost

EUR 2,000,000.00


Risk Mitigation: Financing from commercial sources is not available to KRK, which currently relies on wholesale borrowings from institutional investors and IFIs. Even though other financing options from these investors may be accessible, KRK values the long-term relationship with the EBRD as a financier; it provides comfort to the client with the commitment to develop further its offering and lending practices and it is also expected to instill trust among other financiers of the client based on the EBRD's reputation and context-specific knowledge.

Knowledge, innovation, and capacity building: FIF policy statement, ESD requirements and financial covenants will ensure proper use of loan proceeds, adherence to the best environmental and social practices and prudent financial risk management. 

Environmental and Social Summary

Categorised FI (ESP 2019). KRK is an existing client and has demonstrated compliance with PRs 2, 4 and 9 through its latest Annual Environmental and Social Report for 2020. 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. BB has appropriate staffing and risk management procedures in place to cover the requirements of MSME and WiB lines. BB is required to apply its current E&S risk management process and ensure compliance of sub-projects with national EHS requirements.

Technical Cooperation and Grant Financing


Company Contact Information

Burbuqe Berisha
+383 38243554
20 Behije Dashi str. Pristina 10000 Kosovo

Implementation summary

PSD last updated

13 Apr 2022

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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