IFC Helps Boost Access to Finance for Micro and Small Businesses and Farmers in Kosovo
International Finance Corporation (IFC), a member of the World Bank Group, is providing a EUR 1 million loan to Agency for Finance in Kosovo (AFK), the country’s fourth-largest microfinance institution, to boost access to finance for micro and small businesses, and small farmers and agri-businesses in rural and semi-urban areas, in particular.
Medium to long-term funding is critical for developing Kosovo’s private sector and creating jobs, but remains scarce across much of the country. AFK is one of the few microfinance institutions not headquartered in the capital Pristina but in Peja, and serves more than 14,000 customers through a nationwide 20-branch network. Around 40 percent of AFK’s clients are farmers and entrepreneurs in the agricultural sector, who often face challenges when trying to secure funds from commercial banks.