Crimson Capital News Details

April, 2013

Crimson Finance Fund Opens Branch Office in Kosovo North

The Crimson Finance Fund (CFF) has opened a branch office in Mitrovicë/Mitrovica. With funding from the Norwegian Ministry of Foreign Affairs (NMFA) and Crimson Capital (Crimson), CFF’s new branch office provides working capital finance, including Purchase Order Finance (POF), and term loans to small and medium-sized enterprises (SMEs) in Leposavić/Leposaviq, Zvečan/Zveçan and Zubin Potok municipalities and in the territory of Mitrovicë/Mitrovica.

CFF is a $5.3 million fund co-financed by Crimson, NMFA, NORFUND and USAID that was established in 2008. It is designed to facilitate economic growth and job creation through the provision of innovative types financing for SMEs and through financial literacy and management training to client borrowers. Since opening its doors for business in Pristina, Kosovo in July 2008, CFF has made loans totaling more than $14.6 million to SMEs in Kosovo, stimulating the creation of more than 2,154 new permanent jobs, including 473 jobs for women and minorities and more than $99 million in new sales. Through its borrower clients, CFF has also supported over 2,000 farmers, 124 agro-collection/storage centers and over 2,900 SME suppliers. CFF is licensed by the Central Bank of Kosovo as a non-bank financial institution (NBFI).