Fehmi Mehmeti: The Central Bank of the Republic of Kosovo
continues to support and push the financial sector to increase
support to the economy, especially export businesses
Speech by Mr Fehmi Mehmeti, Governor of the Central Bank of the Republic of Kosovo,
at the launch of the "Export Window", Pristina, 15 December 2022.
* * *
Dear Ms. Minister,
The honourable Mr. Mike,
The honourable Mr. Berisha
Dear attendees
It is a special pleasure to be part of this ceremony which marks a very important step of
the launch of the Export Window. Allow me, on behalf of the Central Bank of the
Republic of Kosovo, to congratulate the Kosovo Credit Guarantee Fund and USAID
(Kosovo Compete Activity) for launching a new window for financial facilitating called
the "Export Window".
The Kosovo Credit Guarantee Fund, with the support of our international friends, within
a relatively short period of time has managed to transform into a very important
institution, playing a very important role in increasing and facilitating financing for the
country's economy.
Bank lending continues to be a very important and stable source of private sector
financing in Kosovo. The value of banking sector loans until October 2022 has reached
4.3 billion euros, marking an annual increase of 17.9%.
However, despite the satisfactory trend of the growth of bank lending, it is considered
that the level of financial intermediation in Kosovo should increase even further, and
that in relation to the size of the economy, there is further room for expansion of the
lending activity.
An important role in filling this space is played by the Kosovo Credit Guarantee Fund,
which, through its guarantee mechanism, will enable the increase in credit and ease the
conditions of access to credit even for the extremely important sectors that ensure the
economic development of the country.
The new export window, which aims to issue new guarantees to partner financial
institutions for the benefit of micro, small and medium enterprises, especially for
exportfocused businesses, is good news for businesses and the economy of the country.
In this period where our economy, and not only, has had negative impacts, firstly from
the pandemic and recently also from the Russian aggression in Ukraine, it is very
important to help our enterprises, to increase the export as much as possible.
Until October of this year, the value of exports reached the amount of 774.4 million
euros.
This amount represents an increase of over 160 million euros compared to the same
period of 2021.
However, this increase is still low compared to the import that in the same period
January-October 2022 reached the amount of 4.6 billion euros.
In the same period last year, imports amounted to 3.7 billion euros.
Therefore, this new window will help to increase the export of businesses, contributing
to the overall economic development of the country.
The Central Bank of the Republic of Kosovo continues to support and push the financial
sector to increase support for the economy, especially businesses that aim to export
our products.
Thank you!