Sustainable Financing for a Greener Kosovo, Greater Welfare and Better Governance

Kosovo Banking Association organized the Annual Convention of the Kosovo Banking Association - 2021

09.12.2021, Pristina

Kosovo Banking Association organized the Annual Convention of the Kosovo Banking Association - 2021. The Banking Convention brought together the banking community, operating and contributing to the development of the Kosovo banking sector, to discuss the topic: “Sustainable Financing: Environmental, Social and Governance Standards for Sustainable Financing in Kosovo”.

Sustainable financing aims to integrate environmental, social, and good governance (ESG) criteria into financial services and to support sustainable economic growth. Kosovo's banking sector, as one of the most important pillars of the country’s financial stability, is making an important contribution to raising awareness and transparency of financial stakeholders, business enterprises, and state authorities on the need to adopt the necessary criteria for a greener Kosovo and a more stable economy.

Welcoming remarks at the Convention of the Kosovo Banking Association were made by Mr. Petrit Balija, Chief Executive Officer, KBA, who said that in addition to the primary contribution to the economic recovery, the banking sector keeps contributing valuably to supporting the various causes of society voluntarily through donations and numerous social responsibility activities.

To address the new global challenges affecting Kosovo as well, the banking sector has prioritized an important topic such as the topic selected for this year, namely “Sustainable Financing, Environmental, Social and Governance criteria for a Sustainable Financing in Kosovo”.

The opening of the Convention was made by Mr. Albert Lumezi, Chairman of the Board of Directors, KBA, and Chairman of the Board, NLB Banka. He highlighted: “For us, as a banking sector, the year we are leaving behind is a year where we are committed to all our opportunities to support bank customers to revive their businesses and recover the damages the previous year had caused in many sectors of the economy. Through the Banking Association and in cooperation with local institutions, we cooperated in many beneficial initiatives aiming at providing financial support to both business enterprises and households. Therefore, banks in Kosovo, being part of well-known international groups, are also an integral part of the institutions that have signed the principles of the Paris Agreement, and we, therefore, believe that Kosovo can also benefit greatly from this agenda.

The keynote address of the Annual Banking Convention was delivered by Mr. Sokol Havolli, Deputy Governor of the Central Bank of the Republic of Kosovo, who praised the contribution the banking sector has given to the country’s economic development and the special attention it is paying in complying with the environmental, social and corporate governance criteria. He informed the participants of the steps the Central Bank has taken in terms of sustainable financing and encouraged those present to keep up with this work more vigorously and in a long-term context.

The latest trends and developments on “Sustainable Financing” were presented in the Convention by the expert, Mr. Boris Janjalia, IFC Corporate Governance Officer.

During the second part of the Annual Convention, the discussion panelists were:

Mr.  Suat Bakkal (Panel Moderator), Vice-Chairman of the Board of Directors, KBA; Chief Executive Officer, Banka Kombëtare Tregtare;
Ms. Cornelia Schneider, UNDCO Senior Coordination Officer/Economist;
Ms. Eriola Bibolli, Member of the Board of Directors, KBA, General Manager of ProCredit Bank Kosovo;
Mr. Ilir Kapiti, Deputy Minister of Finance, Labor and Transfers, Republic of Kosovo
Mr. Joshua Mike, Director, Office of Economic Growth, USAID; and
Mr. Massimiliano Paolucci - Country Manager for Kosovo and North Macedonia, World Bank.

Kosovo Banking Association is the voice of its 10 member banks and since its establishment in 2002, it has kept contributing a greater development of the banking sector, increasing the human resource capacity in the sector and ensuring that the banking system is stable, sustainable, and enjoys the trust of the citizens of the country.