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Kosovo

FINANCIAL SERVICES IMPROVING CHILDREN'S LIVES

Resourceful business owners can generate a reliable source of income through a small loan. A thriving business will support a family, so that they can feed their families and ensure their children stay in school.

Many of the poor are hardworking, resourceful and determined to solve their own problems. Without access to capital and financial services, income is irregular and sometimes only enough to survive day to day.

For nearly a decade we have been helping the poor, who are highly capable of starting a business. Our financial services complement and further World Vision's aims to reach out to those living in poverty. These combined interventions help to improve their lives; their children’s future; and the communities where they live.

    Working in KosInvest

    Working in partnership with World Vision, the global Christian Relief, Development and Advocacy Organization, KosInvest is committed to long-term change which will unlock potential for future generations.

    KosInvest is one of the 38 affiliated Microfinance Institutions of Vision Fund International, which is the microfinance subsidiary of World Vision International providing technical support and oversight to affiliated microfinance organizations.

    KosInvest started its operations in October 2001 by providing loans as a Micro Enterprise Development program of World Vision Kosovo. In January 2007 registered as a separate NGO under the Ministry of Public Administration, from its inception holding a license from the Central Bank of the Republic of Kosovo (CBK), to perform lending activities in Kosovo. Governed through Board of Directors.

    KosInvest provides financial and business development services to the marginalized and economically active poor families, for all communities of Kosovo. We serve all people regardless of ethnicity, religion, gender, race, political affiliation, disability, or health status.

    KosInvest provides individual loans through Village Association methodology.  We go to where the need is; we provide our support to communities through on field assistance. Responsiveness is our strength.
    Staff members work with community to support with most appropriate loan as per clients requirement, and with the completion of the loan application documentation.


    Awards and Ratings

    • The Giordano Dell’Amore Foundation announced on November 8th, during the Annual Conference of the European Microfinance Network hold in Bucharest, the institution KosInvest has been awarded as winner of the fourth edition of the “Giordano Dell'Amore Microfinance Good Practices Europe Award”, realized in collaboration with the European Microfinance Network.

      KosInvest has been awarded thanks to the innovative product “Livestock Loan”, a pilot project started in May 2010 to ensure that low-income rural entrepreneurs have access to loans for productive and healthy animals, thus allowing them to achieve a higher income and increase their sustainability and accountability. It consists of a tripartite agreement (MFI, rural entrepreneur and supplier) for the purchase of livestock: the supplier has to guarantee the health of the animal and provides a limited warranty; the MFI releases the payment; and the client must agree on the animal and can ascribe it as collateral. KosInvest will receive 50.000 € to invest for the implementation of new projects or towards the core costs of existing services.

    Future Innovation

    Our services aim to support economic progress in undeveloped areas. Most of our clients use loans for starting up and growing businesses, which create new jobs for their family members. The main part of our portfolio is used for agriculture, but also includes other kinds of small businesses. More than 70% of our clients remain with us during the next loan cycles as their businesses become sustainable. We measure our success with % of female clients, number of children impacted and number of jobs impacted (created and sustained), and % of client’s retention rate, which figures are showing growth trend in yearly basis”.

     

    Client Success Story

                      “KosInvest improve lives of people living in rural area”


    Ganimete, mother of four children tried her best to take care of her family. They overcome the poverty and economic challenges by selling milk, which was the only income for the family of six. But everything change when her husband got sick and he needed to get a surgery. They were obligated to sell the cow to pay for an operation for her husband.

    Ganimete Bislimi is a forty -four year-old woman from one of the area where KosInvest works. The village is called  Belince; it is located in the southern part of Kosovo. This area of the country has a very high unemployment rate and the economy is not developed. Most of the younger people that are from this area work in some of the western European countries such as Germany or Austria in order to make a living because they are unable to find employment or employment that will pay a decent enough salary to provide for their families. She lives there with her husband and four children. Her family is not small. She has six family members and this makes things even more difficult for them to be able to meet daily needs.

    Her husband has a chronic disease and he has not been able to work for a long time and has even suffered a recent heart attack. Even though her husband receives a social pension, it is quite low, so consequently, Ganimete has become the main source of income for her family. Ganimete used to have one cow. The milk and the milk products that she was getting from the cow were used only for her family needs initially but then she heard that a milk collection point was opened in their village, which was a good opportunity for the villagers to sell their milk.

    Ganimete took an initiative and suggested to her husband that they buy milking cows and start selling the milk and milk products to use the income to improve their family economic conditions. Since taking over the responsibilities of her family’s income, she has been able to manage her business in such a successful manner that she has been able to see her business grow. Recently, however, they had to sell a cow to pay for an operation for her husband.

    As things became difficult for them financially due to this hardship, when she heard about KosInvet she decided to apply and get a loan. She presented herself to the village council and applied for a loan with Kosinvest. The amount that she applied was for 1750 Euros, which was approved by KI and she was able to purchase a new cow.  The cow started to produce 20 liters of milk per day, which means that her income from the milk is enough to sustain the family and provide for them once again.

     Ganimte also is planning to sell calves to support her family. She has the capacity to repay installments of 90 euro and in the future Ganimete plans to add even more cows and continue to increase her farm by getting more cows for milking and calves for selling, as well as being able to involve her daughters in the business.  This would give her even more hope for her future, as her income would tremendously grow with each expansion and investment she makes into her business. She is aware that without Kosinvest her goal would be difficult to achieve and is appreciative of KosInvest support as now Ganimete’s family has no doubt for a better life for herself and her children. The light of hope came into their family and she has ambitious plans for their future.

    Now Ganimete says, "Thank God for this opportunity to sell milk in my neighborhood which will provide a source of income for my family and I don't need to ask for help from other.

    Management Details

    MFI Structure

    KosInvest management is composed of professional, experienced and commitment team, who followed the KosInvest journey since its inception.

    Management structure consists of Board of Directors; Senior Management and Middle Management. Other than the management staff members KosInvest within its team consists also with field and administration staff members. 

    The following are KosInvest’s Senior Management positions:

    Executive Director
    Operation Manager
    Finance Manager
    Risk Manager
    Human Resources / Legal Manager
    Managing Information System Manager

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