IFC and Ministry of Justice Join Hands to Improve Insolvency Laws in Kosovo, Boost Lending

In a bid to improve local bankruptcy procedures and boost the efficiency of the debt resolution system in Kosovo, IFC and the Ministry of Justice of the Republic of Kosovo are joining forces to bolster the insolvency framework and practices. This will help strengthen the avenue for resolving nonperforming loans, increasing returns to creditors and preserving viable businesses.

As part of the joint effort, IFC will advise the government of Kosovo as it updates its insolvency laws and regulations. The new rules will aim to help troubled businesses revitalize and failed businesses wrap up efficiently, releasing valuable capital back into the economy. The initiative, known as the Debt Resolution Project, is expected to create a safety net for businesses and investors, improving access to credit, especially for small and medium enterprises.