Kosovo Financial Sector Strengthening Project

Abstract*

The development objective of Financial Sector Strengthening Project is to improve access to finance for Micro, Small and Medium Size Enterprises by strengthening the financial and technical capacity of the Kosovo Credit Guarantee Fund (KCGF). The Project has two main components. 1) The first component, Enhancing the Credit Guarantee Framework, aims to provide funds to KCGF to issue partial credit guarantees to support access to finance to eligible... Show More

Development Objective

The objective of the Project is to improve access to finance for Micro, Small and Medium Size Enterprises by strengthening the financial and technical capacity of the Kosovo Credit Guarantee Fund.

Key Details

Project Details

Project ID
P165147
Status
Closed
Team Leader
Blerta Qerimi , Alper Oguz
Borrower 2
Republic of Kosovo

Country
Kosovo
Disclosure Date
April 17, 2018
Approval Date
(as of board presentation)
May 14, 2019
Effective Date
September 21, 2020

Total Project Cost 1
US$ 25.00 million
Implementing Agency
Kosovo Credit Guarantee Fund
Region
Europe and Central Asia
Fiscal Year 3
2019

Commitment Amount
US$ 25.00 million
Environmental Category
F
Environmental and Social Risk
Not Applicable
Closing Date
December 31, 2023

Consultant Services required
Yes
Last Stage Reached
BANK APPROVED
Last Update Date
June 25, 2024

Notes
1. Total project cost includes funding from World Bank and non-bank sources in US$ millions. Active and Closed projects show current commitments. Proposed (pipeline) and dropped projects show the forecast amount. The commitment amount for projects in the pipeline is indicative and may be modified during the project preparation.
2. Borrower refers to the Borrower of a Loan or Recipient of a Grant.
3. ”Fiscal Year” is the fiscal year in which the project was approved (or dropped if the status is dropped). The World Bank's fiscal year is from July 1 - June 30. For example, a fiscal year of 1996 corresponds to July 1, 1995 - June 30, 1996.

Sectors

Themes

FY17 - Environment and Natural Resource Management

FY17 - Climate change2%
- FY17 - Mitigation2%

FY17 - Finance

FY17 - Financial Infrastructure and Access100%
- FY17 - Credit Infrastructure100%
- FY17 - MSME Finance52%

FY17 - Human Development and Gender

FY17 - Gender52%

FY17 - Private Sector Development

FY17 - Jobs52%
- FY17 - Job Creation52%

Project Map

Interactive Map

Finances

Financing Plan (US$ Millions)

Financier	Commitments
IDA Credit	25.00

Total Project Financing (US$ Millions)

Product Line	IBRD/IDA
IBRD Commitment	N/A
IDA Commitment	25.00
IBRD + IDA Commitment	25.00

Lending Instrument
Grant Amount	N/A
Total Project Cost**	25.00

Summary Status of World Bank Financing (US$ Millions) as of June 30, 2025

No data available.

Detailed Financial Activity as of June 30, 2025

Download:

Period	Financier	Transaction Type	Amount (US$)
Dec 27, 2023	IDA-64160	Loan Disb	35,148.51
May 6, 2024	IDA-64160	Loan Disb	-17,892.93
May 15, 2024	IDA-64160	Loan Repay	398,305.88
May 15, 2024	IDA-64160	Int Charges	88,766.73
May 15, 2024	IDA-64160	Int Charges	88,766.73
May 15, 2024	IDA-64160	Int Charges	61,544.94
May 14, 2019	IDA-64160	Loan Commitment	25,000,000.00
May 15, 2022	IDA-64160	Int Charges	83,792.21
May 15, 2022	IDA-64160	Int Charges	83,792.21
May 15, 2022	IDA-64160	Int Charges	58,095.93
Dec 23, 2022	IDA-64160	Loan Disb	100,666.42
Nov 15, 2022	IDA-64160	Int Charges	83,985.80
Nov 15, 2022	IDA-64160	Int Charges	83,985.80
Nov 15, 2022	IDA-64160	Int Charges	58,230.15
Dec 22, 2022	IDA-64160	Loan Disb	79,786.93
May 15, 2023	IDA-64160	Int Charges	88,305.67
May 15, 2023	IDA-64160	Int Charges	88,305.67
May 15, 2023	IDA-64160	Int Charges	61,225.26
Dec 18, 2020	IDA-64160	Loan Disb	26,241,166.00
Dec 28, 2020	IDA-64160	Loan Disb	121,945.00
May 15, 2021	IDA-64160	Int Charges	79,778.27
May 15, 2021	IDA-64160	Int Charges	79,778.27
May 15, 2021	IDA-64160	Int Charges	55,312.94
Nov 15, 2021	IDA-64160	Int Charges	92,366.63
Nov 15, 2021	IDA-64160	Int Charges	92,366.63
Nov 15, 2023	IDA-64160	Int Charges	88,340.65
Nov 15, 2023	IDA-64160	Int Charges	88,340.65
Nov 15, 2021	IDA-64160	Int Charges	64,040.86
Nov 15, 2023	IDA-64160	Int Charges	61,249.49
Dec 22, 2023	IDA-64160	Loan Disb	94,875.52
Nov 30, 2023	IDA-64160	Loan Disb	113,355.75

Footnotes

Ratings

IMPLEMENTATION RATINGS

Name	Review	Date
Overall Safeguards Rating	Moderately Satisfactory	2023-04-18
Project Management	Satisfactory	2023-04-18
Overall Implementation Progress (IP)	Satisfactory	2023-04-18
Progress towards achievement of PDO	Moderately Satisfactory	2023-04-18
Procurement	Moderately Satisfactory	2023-04-18
Financial Management	Satisfactory	2023-04-18
Monitoring and Evaluation	Moderately Satisfactory	2023-04-18

COMPLETION RATINGS

INDICATOR	IMPLEMENTATION COMPLETION & RESULTS REPORT: 06-25-2024
Outcomes	Substantial
Risk to Development Outcome
Bank Performance	Substantial
Borrower Performance
Government Performance
Implementing Agency

INDEPENDENT EVALUATION RATINGS

INDICATOR	ICR REVIEW: 11-13-2024	PROJECT PERFORMANCE ASSESSMENT REPORT:
Outcome Rating	Satisfactory	N/a
Risk To Development Outcome		N/a
Bank Performance	Satisfactory	N/a
Borrower Performance		N/a
Government Performance		N/a
Implementing Agency		N/a
Icr Quality	Substantial	N/a
M&e Quality	Substantial	N/a

Results Framework

PROJECT DEVELOPMENT OBJECTIVE INDICATORS

INDICATOR		BASELINE	CURRENT	TARGET

Total amount of guaranteed loans through Project Value 0.00 130000000.00 130000000.00
Date December 31, 2019 December 31, 2023 December 31, 2023
Comment
Number of Guaranteed Loans Value 0.00 3700.00 3700.00
Date April 30, 2019 December 31, 2023 December 31, 2023
Comment

INTERMEDIATE RESULTS INDICATORS

INDICATOR		BASELINE	CURRENT	TARGET

Number of MSMEs receiving guaranteed loans through project Value 0.00 2000.00 2000.00
Date April 30, 2019 December 31, 2023 December 31, 2023
Comment

Procurement, Financial Management and Environmental Monitoring capacity of the KCGF is improved	Value	No distinct functions for procurement, FM and envi	Procurement, FM and environmental specialists are
	Date	December 26, 2018	December 31, 2023
	Comment

Share of guarantees issued to firms with no credit history Value 25.00 30.00 0.00
Date December 26, 2018 December 31, 2023
Comment
Number of loan officers trained Value 0.00 600.00 0.00
Date December 31, 2019 December 31, 2023
Comment
Share of guarantees issued to women owned or managed MSMEs Value 0.00 5.00 0.00
Date December 26, 2018 December 31, 2023
Comment
The ratio of outstanding guarantees to equity Value 0 below 2.5
Date December 31, 2019 December 31, 2023
Comment
Proportion of guarantees paid-out Value 0 below 5 percent
Date December 26, 2018 December 31, 2023
Comment
Percentage of beneficiaries that feel project activities reflected their needs (Citizen Engagement Indicator) Value 0.00 75.00 0.00
Date December 26, 2018 December 31, 2023
Comment

Total amount of guaranteed loans through Project	Value	0.00	130000000.00	130000000.00
	Date	December 31, 2019	December 31, 2023	December 31, 2023
	Comment

Number of Guaranteed Loans	Value	0.00	3700.00	3700.00
	Date	April 30, 2019	December 31, 2023	December 31, 2023
	Comment

Number of loan officers trained	Value	0.00	600.00	0.00
	Date	December 31, 2019	December 31, 2023
	Comment

The ratio of outstanding guarantees to equity	Value	0	below 2.5
	Date	December 31, 2019	December 31, 2023
	Comment

Proportion of guarantees paid-out	Value	0	below 5 percent
	Date	December 26, 2018	December 31, 2023
	Comment

Percentage of beneficiaries that feel project activities reflected their needs (Citizen Engagement Indicator)	Value	0.00	75.00	0.00
	Date	December 26, 2018	December 31, 2023
	Comment