The CBK through a conference launched the initiative to support access to finance for women entrepreneurs “WE Finance Code”

The Central Bank of the Republic of Kosovo (CBK) with the support of the European Bank for Reconstruction and Development (EBRD) and the Frankfurt School of Finance and Management, launched the initiative to support women’s access to finance, “WE Finance Code,” through a conference. This project will have a lasting impact on financial inclusion in our country, in line with the CBK’s strategic orientations. The conference was honored and supported by the participation of the President of the Republic of Kosovo, Mrs. Vjosa Osmani Sadriu, who delivered a keynote speech.

During this event, a Memorandum of Understanding (MoU) was signed with the Business Registration Agency (ARBK) to exchange data on businesses, particularly those owned or co-owned by women. Additionally, Letters of Intent were officially signed by institutions that will support this initiative with concrete activities, aiming for broader inclusion and meaningful impact in finance and the economy.

In his opening speech, Governor Mr. Ahmet Ismaili thanked the participants, expressing his satisfaction that the institution he leads is coordinating this project nationwide. According to him, this initiative provides an additional opportunity to support access to finance, financial inclusion, consumer protection, and financial literacy, especially for women entrepreneurs. This initiative is a continuation of the Agreement between the CBK and the EBRD, signed in October 2024 in Washington, D.C.

Governor Ismaili highlighted that one of the outcome keys of this project is improving gender-disaggregated data, which will help understand the challenges women when seeking access to finance, particularly those leading or managing Small and Medium Enterprises (SMEs). The CBK has already taken steps by amending the Credit Registry Guidelines to include additional data aligned with this project. He emphasized that the CBK will continue to advance the supervisory data collected from financial institutions, including key information on gender representation within these institutions—not only at the leadership level but across all organizational levels—ensuring a better overview of gender balance in decision-making roles and serving as a reference point for fair practices in Kosovo’s financial institutions.

Furthermore, through this project, the CBK aims to develop data panels that will publicly report key financial inclusion indicators. These will enable regular monitoring of progress and the sharing of data on women’s participation in financial institutions, ensuring transparency and accountability.

At the end of his speech, Governor Ismaili stated that this project is not only important for the CBK but is crucial for the future of the country’s economy. He emphasized that when women are financially empowered, they contribute more to economic development and create opportunities that bring benefits to the entire society.

Addressing the attendees, the President of the Republic of Kosovo, Mrs. Vjosa Osmani-Sadriu, expressed her support for this initiative and reaffirmed her commitment to supporting women in business and advancing their rights through legislation and concrete initiatives coordinated with national institutions.

Meanwhile, the Head of the EBRD for Kosovo, Mr. Sergiy Maslichenko, thanked the CBK for its commitment to financial inclusion and the promotion of gender equality in the country’s financial sector. He also highlighted key projects the EBRD is developing in Kosovo, particularly in the financial sector, and successful collaborations with the CBK.

During the Annual Meetings of the International Monetary Fund (IMF) and the World Bank (WB), held in the October 2024 in Washington, D.C., Governor Ismaili and the EBRD Vice President, Mr. Mark Bowman, signed a Memorandum of Understanding on supporting women’s access to finance as part of this initiative. In December 2024, an informational workshop was organized with financial institutions. Today’s launch event aims to ensure the successful implementation of this project, for which the CBK expresses deep gratitude to the co-organizers, public institutions, financial institutions, and its supporters.

“WE Finance Code” is already being implemented by over 30 central banks in various countries worldwide, including those in the region, and now also in the Republic of Kosovo through the CBK.