July 5 (SeeNews) - The European Bank for Reconstruction and Development (EBRD) said on Tuesday it is considering providing a senior unsecured loan of up to 4.5 million euro ($4.6 million) to Kosovo's Banka per Biznes to support youth-led micro, small and medium-sized enterprises (MSMEs) in the country.
The potential funding would be used for on-lending to MSMEs whose overall operational management responsibility or majority ownership is held by a person under the age of 35, the EBRD said in a project summary document.
The loan would be extended under the EBRD's Western Balkans Youth in Business Programme in three equal tranches.
Banka per Biznes, established in 2001, was the seventh largest bank in Kosovo with a market share of 7% by total assets and 6.8% by net loans as of end-2021.
The EBRD holds a 10% stake in Banka per Biznes since 2010.
($ = 0.9711 euro)