The Crimson Finance Fund (CFF) in Kosovo has received an additional $1.5 million in funding from USAID, earmarked to support the agricultural sector in Kosovo. CFF will use these funds to launch equipment leasing in Kosovo and to increase its agricultural lending portfolio.
Founded in the forth quarter of 2008, CFF is an innovative, non-bank financial institution that is uniquely positioned in the Kosovo marketplace, addressing the needs of entrepreneurs and businesses that are not being adequately served by existing institutions. It provides critical financing to businesses including rural, women and minority-owned enterprises. In just two years of operations – and with an initial lending pool of just $1.8 million – CFF has already issued over $3.8 million in loans to SMEs, stimulating more than $49 million in new, incremental sales and the creation of over 280 full time, permanent jobs, including 57 jobs for women and minorities. CFF is completely self-financing and sustainable from interest and fee income, thereby providing a continuing legacy of increased sales, growth, exports and job creation for donors.