FINCA helps Kosovars living in poverty access financial services to improve the quality of life for themselves and their families.
$55.5M LOAN PORTFOLIO
$2,626 AVERAGE LOAN
22% WOMEN BORROWERS
2000 YEAR FOUNDED
Shadije Asllani is a successful asparagus farmer in Kosovo. She used microfinance loans from FINCA to realize her dreams.
Individual Loans, Small Group and Solidarity Loans, Rural and Agriculture
Like in similar countries with a long history of conflict, poverty is relatively common in Kosovo. In fact, Kosovo is one of the poorest countries in Europe. About a quarter of the country’s population lives below the national poverty line.
Poverty in Kosovo is exacerbated by high unemployment, with one of the worst unemployment rates in the world. Unemployment levels for first-time job seekers and women in particular are considerably higher than the official rate. This has forced many Kosovars to migrate, while others have tried to create their own jobs in the informal economy. Compounding the problem of unemployment is a poor-quality education system, leaving many youths with little choice: either take a low-skilled, low-wage job or enter the informal sector.
When people in poverty have access to financial services and life-enhancing products, they can earn more, build their assets, create jobs and cushion themselves against external shocks. Since 2000, FINCA has been helping thousands of Kosovars improve their lives. FINCA offers financial services throughout the country. These services include individual loans, small group and solidarity loans, and loans for agricultural activity. About a quarter of FINCA’s clients in the country are women, most of whom are the primary source of income for their families. Empowering women continues to be a strong focus of FINCA in Kosovo. In addition to financial services, FINCA also delivers training on topics like agriculture and finance. Thanks to its client-friendly practices, FINCA Kosovo has also been awarded Smart Certification.
A lot remains to be done to alleviate poverty in Kosovo, given that half of adults in the country are excluded from financial services. Expanding financial inclusion is one of the main drivers of FINCA’s mission in the country.
17.6% LIVING BELOW POVERTY LEVEL 2
$10,760 ANNUAL PER CAPITA INCOME 3
48% FINANCIALLY EXCLUDED 4
Robert Doll 5
+381 38 609721
Fax: +377 44 1494941
1Information is updated on an annual basis
2Poverty headcount ratio at national poverty lines (% of population)
3GDP per capita, PPP (current international $)
4Adult population lacking account at a formal financial institution