Dear media representatives,
It was a pleasure to welcome today, in separate meetings, representatives of
businesses, commercial banks and leaders of Kosovo Credit Guarantee Fund,
with whom the Central Bank of the Republic of Kosovo has established a very
effective partnership in support of the country's economy during this difficult
period.
The CBK, together with representatives of businesses and commercial banks
operating in the country, has managed to identify in due time the needs of
businesses and citizens to cope more easily with the difficulties arising due to
the pandemic crisis, and based on these needs, we responded in time to alleviate
the burden of borrowers in paying loan instalments, thus reducing the economic
consequences of this crisis in our country.
Nonetheless, the difficulties caused by this crisis are still present in our
economy, and depending on the developments related to possible restrictive
measures, businesses may continue to face similar difficulties in the coming
period.
To this end, we gathered today to discuss the challenges faced by businesses
and possibilities to further strengthen the role of the banking sector in support of
recovery and further development of businesses.
As you are aware, one of the main pillars of the economic recovery plan is
based on facilitating the access to finance through the use of loan guarantee
scheme provided by the Kosovo Credit Guarantee Fund. Therefore, we used this
meeting to discuss regarding the effectiveness of this loan guarantee program to
support those who are in need to benefit from this program.
On this occasion, we emphasised the importance of having KCGF implement its
mission, as much as possible, in facilitating access to finance of social classes or
sectors that have difficulties in accessing to finance, thus facilitating their access
to bank financing, especially for those who have difficulties in getting such
access independently.
We consider that the CBK's regulatory measures for treating the loans
guaranteed by the KCGF as risk-free assets of banks, which represent a very
important relief in terms of regulatory requirements for bank equity, as well as
coverage of the guarantee fee by the Government of Kosovo, represent very
important reliefs which, as we consider, will reflect in more favourable
conditions by the lending institutions for the guaranteed loans.
The CBK remains committed to further strengthen this partnership, through
continuous communication and harmonization of policies, so that they are more
effective in supporting the recovery and development of the country's economy.