EBRD and Raiffeisen Leasing support leasing in Kosovo

Noel Edison, EBRD director, insurance and financial services, said: “We are very pleased to extend this loan to Raiffeisen Leasing Kosovo today. It is an important step which will allow us to address two important challenges at the same time: developing the leasing market in Kosovo and facilitating local small businesses’ access to finance.”

Small businesses form the backbone of the economy of Kosovo; however, access to finance often remains a challenge in many cases owing to the lack of collateral.

The EBRD says leasing represents a viable and attractive alternative, but market penetration remains at very low levels.

Gjon Gjonlleshaj, executive director at Raiffeisen Leasing Kosovo, said: “The start of our cooperation with the EBRD marks an important milestone in the development of our institution. By reaching out to private small businesses we are offering this vibrant segment of Kosovo’s economy means to finance their expansion and growth.”

Raiffeisen Leasing Kosovo is owned by Raiffeisen Bank Kosovo, which in turn is a subsidiary of Raiffeisen Bank International.

Raiffeisen Leasing Kosovo operates as a non-bank financial institution and provides lease financing to micro, small and medium-sized enterprises and private individuals.

To date, the EBRD has invested more than €225 million in 51 projects in Kosovo.

The bank’s strategic priorities in the country are promoting inclusion, the green economy, economic resilience and regional integration. The majority of the EBRD’s investments are in the private sector.