The European Bank for Reconstruction and Development (EBRD) has approved a €5 million senior unsecured loan to Raiffeisen Leasing Kosovo (RLK).

This funding aims to bolster small and medium-sized enterprises (SMEs) in the landlocked Balkan country of Kosovo through the Sustainable Reboot SME Programme (Reboot SME), according to an EBRD press release.

The loan will enable RLK to provide sub-leases to SMEs, facilitating investments that enhance competitiveness and ensure compliance with EU directives and internationally recognised standards. At least 70% of the lease investments will be allocated to technologies that meet the EBRD’s Green Economy Transition (GET) approach criteria.

Energy transition

With an Energy Transition Index ETI score of 60, the project is set to significantly contribute to the programme’s objectives of promoting competitive and green qualities, the EBRD said.

The Energy Transition Index (ETI) measures how effectively a country transitions to a sustainable and efficient energy system. It indicates a nation’s readiness to adopt cleaner energy sources and reduce its carbon footprint. Scores range from 0 to 100. Most projects score between 60 and 70, indicating a “Good Transition Impact.” Scores between 70 and 80 are strong, while only a few exceptional projects score above 90 each year. The ETI was developed by the World Economic Forum (WEF) as part of its annual Global Energy Architecture Performance Index (EAPI).

The EBRD said the project will support SMEs in boosting their competitiveness by prioritising investments that align with EU directives and other international standards. The project also focuses on green technology investments, aiming to foster a transition to a sustainable, low-carbon, and climate-resilient economy.

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Raiffeisen Leasing Kosovo LLC is a non-bank financial institution in Kosovo, fully licensed, regulated, and supervised by the Central Bank of Kosovo. Since 2008, RLK has provided lease financing to micro, small, and medium-sized enterprises (MSMEs) and private individuals under the Kosovo Leasing Law. RLK is part of the Raiffeisen Group.

This project offers medium-term financing combined with technical support and investment incentives, promoting green investments to enhance the competitiveness of SMEs.


Categorised under the Financial Intermediaries (FI) segment according to the 2019 Environmental and Social Policy (ESP), RLK is an existing client of the EBRD. The company has established the necessary environmental and social policies, procedures, and risk assessment tools in line with EBRD requirements.

RLK will continue to comply with Performance Requirements 2, 4, and 9, ensuring that sub-projects meet national environmental, health, safety, and labour standards. An Annual Environmental and Social Report will be submitted to the EBRD.

The project includes technical cooperation (TC) from programme consultants to support implementation, marketing, and monitoring. Technical verification of sub-borrowers’ investments will be conducted before releasing incentive payments.

TC funds come from the EBRD’s Shareholders’ Special Fund, DANIDA, and SECO via the Small Business Impact Fund. Up to 15% per sub-operation, non-TC grants are sourced from Norway, Luxembourg, the US, SECO, DANIDA, and the EBRD’s Shareholders’ Special Fund. This project with RLK is specifically supported by donor funds from DANIDA for both TC and non-TC components.


Kosovo declared independence from Serbia in 2008, recognised by the United States and most EU countries, but not by Serbia, Russia, or several other nations. Consequently, Kosovo wasn’t immediately admitted to the UN. The International Court of Justice ruled in 2010 that Kosovo’s declaration did not violate international law, a decision Serbia rejected.

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