The French Development Agency, represented by Proparco, has signed a financing agreement with the Kosovo Financing Agency (AFK) worth 5 million euros, aimed at empowering women and rural communities.
Of the 5 million euros, 3 million are allocated for women entrepreneurs, while the remaining 2 million are for rural areas.
The French Ambassador to Kosovo, Olivier Guerot, believes that these loans will empower women and entrepreneurs in rural areas.
Guerot emphasized that the more women are involved in business, the stronger Kosovo becomes.
“For us, this is very important because this loan will help women and entrepreneurs in rural areas. Supporting women, especially women entrepreneurs, is very important. Kosovo is a country of strong women. I meet them every day in institutions, in politics both in the majority and the opposition, as well as in business. The more women there are in this country, the stronger Kosovo is. If all women have access to business, politics, or public life in general, Kosovo will be twice as strong… Kosovo is a country with beautiful cities, but also with an extraordinary landscape. We are trying to promote this landscape in various ways. We have supported a scheme from the Ministry of Agriculture for purchasing cows. We are also supporting activities in the field of biodiversity,” he said.
The Executive Director of the Kosovo Financing Agency (AFK), Xhevdet Spahija, emphasized that the 5 million euro cooperation with Proparco will mainly go to financing women entrepreneurs and women in agriculture.
He noted that AFK, since 1999, has distributed around 500 million euros through approximately 165,000 loans.
“This cooperation with Proparco, which amounts to 5 million euros, will be mostly used to finance women entrepreneurs as well as women in agriculture. So far, AFK has distributed around 500 million euros through about 165,000 loans. It is a very successful microfinance institution operating since 1999,” he said.
The Regional Director for Eurasia at Proparco, Steve Gardon, stated that the partnership aims to make economic development in Kosovo more inclusive.
He emphasized that the focus will be on supporting women entrepreneurs and financing businesses in rural areas, where access to finance is most limited.
“This partnership will focus on two things. First, supporting women entrepreneurs. This is one of the main pillars of Proparco’s and France’s global strategy to support women in business, to provide financing that increases their opportunities and allows them to contribute more and more to the economic ecosystem. Second, supporting entrepreneurship in the more rural areas, where the financing gap is more critical and where the support of AFK personnel, for example, is most needed,” he declared.
