Leaders of Kosovo institutions and foreign diplomats presented today in Gracanica the Kosovo Credit Guarantee Fund. Small and medium sized businesses are expected to gain an easier access to loans after the establishment of the Credit Guarantee Fund, which enables more favorable loans for them.

The Fund, which is a local, independent and sustainable institution, will issue partial guarantees for loans to the financial institutions, increasing in this manner access for micro and medium sized enterprises.

At the ceremony of this initiative, PM Isa Mustafa assessed that the launching of this fund is a historic event. He added that the expected visa liberalization for Kosovars will create new possibilities of making business.

Assembly President Kadri Veseli, said that the Assembly has approved the Law for the Credit Guarantee Fund. “Having access to funding will make it easier for talented people to do business,” Veseli said.

The U.S. Ambassador to Kosovo, Greg Delawie, said that initiation of the Fund represents a new chapter in Kosovo’s economic development. “This Fund is a significant achievement that will help businesses and we expect to have twenty thousand new jobs during the next six years,” Delawie said.

The German Ambassador to Kosovo, Angelika Viets assessed that this is “an excellent example” of offering opportunities to the small and medium-size businesses of Kosovo.

Kosovo Credit Guarantee Fund Law was endorsed by the Assembly of Kosovo in December of the last year.