A senior unsecured MSME loan of up to EUR 4m to KEP Trust ("KEP") under the Financial Intermediaries Framework ("FIF") with proceeds to be used for on-lending to micro, small and medium-sized enterprises ("MSMEs") in Kosovo in accordance with the FIF Policy Statement.
The project is envisaged to promote entrepreneurship and market competitiveness by increasing availability of financing to the privately owned MSMEs in Kosovo, with a focus on regional outreach, attraction of new MSME clients and women-led MSMEs.
ETI score: 60
The project contributes to the objectives of the FIF, supporting the Competitive and Resilient Transition Impact qualities:
Competitive: The project will contribute towards building a more competitive financial sector by enhancing KEP's lending to privately owned MSMEs in Kosovo, with a focus on regional outreach and attraction of new clients.
Resilient: The project will contribute towards the resilience of the financial sector by ensuring prudent lending practices and adequate portfolio quality.
KEP Trust ("KEP") is the largest microfinance institution ("MFI") in Kosovo, organized as a non-governmental organization ("NGO"). KEP was founded in August 1999 with contributions from the humanitarian organization International Catholic Migration Commission - Switzerland and the Prizren Business Club.
EBRD Finance Summary
Total Project Cost
Additionality is achieved by combining the necessary long-term financing in the form of a senior loan.
Environmental and Social Summary
Categorised FI (2019 ESP). KEP is an existing client and their Annual E&S Report of 2022 demonstrated improvement of their environmental and social performance thus complying with the Bank's relevant performance requirements. KEP will be required to continue to implement the environmental and social risk management procedure for Micro, SME and Corporate loans and comply with the EBRD's Performance Requirements (PRs) 2, 4 and 9, including adherence to the expanded EBRD E&S Exclusion List and Referral List introduced with ESP 2019 and submit Annual E&S Reports to the Bank.
Technical Cooperation and Grant Financing
Company Contact Information
+383 38 722 733
Rr. Pashko Vasa nr. 6, 10000 Prishtina, Kosovo
PSD last updated
24 Jul 2023
Further information regarding the EBRD’s approach to measuring transition impact is available here.
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Environmental and Social Policy (ESP)
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More information on the EBRD’s practices in this regard is set out in the ESP.
Integrity and Compliance
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Access to Information Policy (AIP)
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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 firstname.lastname@example.org to get guidance and more information on IPAM and how to submit a request.