Kosovo Businesses Receive IGNITE Loan Guarantee Fund

On January 15th 2014 in Brezovica, Kosovo, 8 new businesses were awarded support by the new IGNITE Loan Guarantee Fund.  Part of the “Youth Entrepreneurship Development”(YED) project, the Business Plan Competition is part of a strategy that aims to create favorable conditions for the the development of SMEs through direct technical and financial support to alleviate unemployment and strengthen production capacities of businesses.

Implemented in 6 municipalities in Kosovo, the Business Plan Competition winners were in attendance with high municipal and SPARK representatives.  Conducting the welcome speech, Project Manager, Nenad Janicevic explained that the BSC Strpce had organized two rounds of Businesses Plan Competition in 2013, and stressed that the 8 winners will be supported by SPARK’s new IGNITE Loan Guarantee Fund, a loan at strengthening production capacities of local businesses by creating additional employment opportunities.

In the first round 60 business plans were submitted to BSCs under BPC 2013, out of which 42 were approved for financing by independent Jury, and in second round 46 business plans were developed and submitted to Jury for the evaluation, out of which 32 were approved. The quality of received business plans proves the success of the actions implemented during business plan writing courses also organized under this program.

Mr Janicevic expressed gratitude to the donors on behalf of BSC Strpce, while the BPC winners briefed on their business plans and thanked both the donors and the project team.  The ceremony concluded with awarding the Business Plan Competition winners with a certificate, given by  SPARK MFSII Programme Coordinator,  Adrian Nikacevic.