Lack of a formal IDs slows economic growth by limiting who can participate in the formal economy.

With support from the World Bank, the Western Balkan economies are making significant progress in aligning their national payment systems with EU standards as part of their accession goals.

KEP Trust plans to on-lend the proceeds of the senior, unsecured loan to micro-, small and medium-sized enterprises (MSMEs).

Mi-Bospo operates mainly in rural areas and offers access to credit and non-financial services to individuals, particularly women entrepreneurs.

A senior loan of EUR 5 million will be on-lent by the bank to businesses that want to implement energy efficiency and resource efficiency measures, as well as small scale renewable energy projects. 

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.

The facility has been provided under IFC’s Small Loan Guarantee Program (SLGP), a programmatic approach to risk-sharing that aims to strengthen the capacity of financial institutions to finance SMEs in low-income countries.