bashkim nurboja : the number of businesses with women owners continues to increase speech by mr bashkim nurboja, acting governor of the central bank of the republic of kosovo, at the launch ceremony of two new guarantee windows for " women in business " and " start - up ", from the kosovo credit guarantee fund, pristina, 26 april 2023. * * * the honourable minister, the honourable mr. berisha, dear attendees, it is a special pleasure to be part of this ceremony that marks the seventh anniversary of the establishment of the kosovo credit guarantee fund, and also of the launch of two new guarantee windows, for women in business and start up. the kosovo credit guarantee fund, with the support of international friends and partners, within a relatively short period of time has managed to transform into a very important institution, playing a special role in increasing and facilitating financing for the country's economy. bank lending continues to be a very important and sustainable source of financing for the private sector in kosovo. the value of banking sector loans until february, 2023 has reached 4. 38 billion euros, marking an annual increase of 15. 1 %. although there is a satisfactory trend of credit growth in the country, 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 lending activity, and especially for the inclusion of women in economic activities. a very important role in filling this space is played by the kosovo credit guarantee fund, which, through its guarantee mechanism, will enable the increase in lending and ease the conditions of access to credit. allow me to share with you some data from the banking sector ; the number of business accounts with women owners in the banking sector is 21, 247 compared to 104, 461 with men owners, or 17 percent of the total accounts, the value of deposits of businesses with women owners is 112 million euros or 7 percent of the total deposits of businesses from 1. 7 billion. the number of loans of women - owned businesses is 8, 185 or 25 percent of the number of business loans, compared to the number of loans of 24, 546 or 74 percent of businesses with male owners. meanwhile, the value of loans to women - owned businesses is 643 million euros or 29 percent of the total business loans of 2. 2 billion. therefore, the new guarantee window for women in business, in addition to being good news for new

obligations from immovable property ownership. the regulatory framework applied to financial institutions aims to determine the minimum requirements and standards that must be applied by every licensed financial institution. appraisal of immovable property in relation to transactions in which immovable property is used as collateral for any credit instrument issued by financial institutions, as well as determining which immovable property transactions require the services of a licensed appraisers is of primary importance. property appraisal potentially affects capital allocation through risk - weighted assets, for loans that are collateralized by immovable property. once we have managed to have this process finalized, we will also look at the possibility of considering commercial immovable property collateral to be weighted with a smaller weight in risk weighted assets. currently these collaterals are weighted with a risk of 100 percent according to our regulation, so that when the appraisal is more accurate / fair, they will be able to be weighted with a lower weight. this would also enable the release of capital and therefore the possibility for more lending. the cbk cooperates closely with the supervisory council on licensing of immovable property assessors, established by the ministry of finance, labour and transfers, in which it also participates with its representative. in addition to the licensing by this council of a number of immovable property appraisers who carry out appraisal for the needs of the financial sector, the cbk has also licensed a number of its personnel engaged in the examination of financial institutions, who assess reports prepared by appraisers engaged for financial institutions. the cbk is committed to further advancing the regulatory and supervisory framework related to the appraisal of immovable property. we expect that through this usaidsupported project, we will be able to advance the existing legal and regulatory framework of the appraisal of immovable property, including establishing the necessary mechanisms for quality control of appraisal and adequate monitoring of appraisers. in this regard, the central bank of the republic of kosovo, through its involvement in the inter - institutional working group, within the framework of the international monetary fund program, has been involved in the preparation of the residential property price indices, a project which is being led by the kosovo agency of statistics. we expect that these changes will directly affect banks and other financial institutions to correctly implement the applicable regulatory requirements, as well as to advance their policies and procedures related to the appraisal of immovable property, in accordance with international best practices and european union standards,