MEB will provide account management, money transfers, loans and cashless payment transactions to micro and small enterprises, as well as individual customers. It will have an initial equity holding of EUR 2.3 million.
Funding is provided to a substantial degree by the Dutch and German governments.
The Micro Enterprise Bank does just that, giving ordinary people the means to provide for their own livelihoods without resorting to handouts. It will also serve as a dependable, commercial-oriented source of credit for small businesses, which will form the backbone of a resurgent Kosovar economy. IFC s Director of the Central and Southern Europe Department, Harold Rosen stressed that this kind of project will create jobs and improve people s lives. A major impediment to growth has been the lack of access to credit which is one of the main vehicles for promoting economic growth. By demonstrating the commercial viability of properly structured and organized micro-lending institutions, we can catalyze considerable private investments to build credit and other financial services for many poor people in Kosovo.