Microfinance Institutions of Kosovo marked 20th October – European Day of Microfinance. This day aims to increase awareness of microfinance as a tool to combat social exclusion and unemployment and was held for the first time in Kosovo as well as Europe.

To mark the 20th October, Association if Microfinance in Kosovo and microfinance institutions in Kosovo held an awards ceremony for its clients who have made impact in their domestic economies. This event was attended by the representatives of international financial institutions and donors.

The first speech was addressed by Director of the Board of the Association, Mr.Vahdet Anadolli. In his speech, the Director emphasized that microfinances contribute to 15 years of economic development and the creation of new jobs, supporting families and small businesses through loans with simple procedures. He also stressed that microfinance institutions ‘receive loan to give loan’ and noted that the around 400 thousand families and businesses have been served by microfinance institutions in Kosovo. Finally Mr. Anadolli stressed the need for a more favorable regulatory framework for the microfinance sector.

In his speech, Governor of the Central Bank of the Republic of Kosovo, Mr. Bedri Hamza stressed that microfinance an important tool for financial inclusion and lending marginalized strata of society. He also highlighted the efforts of the Central Bank to provide a regulatory environment that will serve as the basis for lower interest rates.

During 2015, the microfinance sector allocated nearly 50 thousand loans throughout Kosovo and distributed about 65 million Euro in all sectors. The average loan is about 1,100 Euros.

During the ceremony, special awards were given from each institution to its clients that made the biggest impact in their families and businesses. Three awards were given in the following category, and the winners from FINCA were:

1. Best client in the farming sector – which was won by Mr. Xhevat Uka, who is considered to be one of the top ten farmers in the Lipjan region. He owns land and cultivates crop.
2. Client with the greatest employment impact – won by Mr. Murat Gashi, who owns a large orchard land with apples. He employees around 500 employees during the peak season.
3. Best women story – won by Mrs. Musherete Olluri, who is a widower with five children. Her first ever loan with FINCA was helped her to open a small clothing store and is able to financially secure her children’s schooling