Pristina: The OPEC Fund for International Development (OPEC Fund) is enhancing access to finance for small and medium-sized enterprises (SMEs) in Kosovo through a £15 million loan to Raiffeisen Bank Kosovo (RBKO). The initiative aims to tackle ongoing credit challenges faced by small businesses, including those owned by women, marking the OPEC Fund's debut private sector loan in the nation.
According to Emirates News Agency, Tareq Alnassar, OPEC Fund Vice President, Private Sector, noted that SMEs are critical to Kosovo's economy, yet many struggle with restricted access to affordable financing. The collaboration with Raiffeisen Bank Kosovo is intended to deliver essential resources to local businesses, fostering economic opportunities and supporting inclusive growth.
The funding will allow RBKO, the largest bank in Kosovo, to offer longer-term loans to local enterprises, thereby supporting investment, business expansion, and job creation throughout the country.
This new financial partnership builds upon the OPEC Fund's existing cooperation with Raiffeisen Bank International (RBI Group), furthering its engagement with a prominent financial institution based in the OPEC Fund's host country, Austria. The loan aligns with the OPEC Fund's strategic focus on bolstering entrepreneurship, enhancing financial inclusion, and promoting opportunities for women-led businesses. It also contributes to the Sustainable Development Goals 8 (Decent Work and Economic Growth) and 9 (Industry, Innovation and Infrastructure).