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Besëlidhja/Zavet Microfinance. Alleviating Poverty through Microfinance Services. Advancing the Mission : Through Financing the Development in Northern Kosovo. Presented by John Choi Managing Director BZMF March 25, 2004. Advancing the Mission » Agenda. Introduction Overview

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Besëlidhja/Zavet Microfinance

Alleviating Poverty through Microfinance Services

Advancing the Mission:

Through Financing the Development in Northern Kosovo

Presented by John Choi

Managing Director

BZMF

March 25, 2004


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Advancing the Mission» Agenda

  • Introduction

    • Overview

    • Geographical Focus Areas

    • Demographics

    • Political Landscape

  • Needs Assessment: Background on Northern Kosovo

  • Meeting the Need: Beselidhja/Zavet Microfinance

  • Gracanica Case Study

  • Your Opportunity

  • Appendix


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Introduction» Overview

Kosovo has been plagued with economic instability and inter-ethnic conflict. BZMF has emerged as a leader in delivering innovative financial products for the poor and promoting peace and reconciliation.

  • Development in Kosovo

    • According to studies conducted by the UNDP in April of 2004, just over 47% of Kosovo’s population is in poverty with 13% living in extreme poverty.

    • Due to the lack of financial services to the poor, many entrepreneurs in Kosovo cannot develop their businesses. As a result, they are vulnerable to economic shocks and are subsequently less capable of moving out of poverty.

    • Stabile social, economic and political systems requires a significant amount of investment and time.

  • Beselidhja/Zavet Microfinance (BZMF), implementing organization

    • In April of 2000, World Relief established BZMF to help individuals and communities in Kosovo work towards recovery and reconciliation.

    • BZMF offers a range of loan products including Business Loans, Agriculture Loans, Kos Loans and Pledge Loans.

    • BZMF is headquartered in Pristina and has five strategic locations allowing service to 75-80% of thepopulation in Kosovo.

  • The mission of BZMF is to facilitate a transformation in the lives of the poor by:

    • Providing innovative and customer-oriented financial products that enable micro enterprises to grow and contribute to the economic development of Kosovo; and

    • Offering financial services to the underserved markets of Kosovo.

  • The vision of BZMF is holistic – it seeks to:

    • Develop local communities economically and socially.

    • Maintain a financially and operationally self-sufficient institution that satisfies the needs of clients, staff and investors.


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Introduction» Geographic Focus Areas

The goal of this project is to facilitate economic development through the provisioning of microfinance services in the minority areas of the “Northern Kosovo Focus Areas” which includes the following municipalities: Northern Mitrovica, Lesposavic, Zubin Potok and Zvecan.

Northern Kosovo Focus Areas

Kosovo Administrative Divisions

Source: “Kosovo As Seen, As Told”, Organization for Security and Cooperation in Europe (OSCE)


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Introduction» Demographics

According to the latest population estimates, approximately 80,000 people live in the Focus Areas.

Focus Areas Population by Region

Focus Areas Population by Ethnic Group2

Other3%

Albanians6%

000s

Serbs & Montenegrins91%

1

Note: (1) UN official estimate based on assumption that N. Mitrovica accounts for 30% of total Mitrovica population of ~100,000; (2) Ethnic group figures based on population breakdown percentages implied by 2003 ESI estimates (for N. Mitrovica) and 2005 OSCE Municipal Profiles (for Leposavic, Zvecan, and Zubin Potak)

Source: OSCE Municipal Profiles, February 2005


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Background on Northern Kosovo» Political Landscape

The Mitrovica region has been marked by political conflict and violence between ethnic Serbs and Albanians. BZMF desires to direct its attention to this area to facilitate economic stability and peace in Kosovo.

In summer 1999, the Ibar river in Mitrovica became the line of separation between Albanian-dominated south and Serb-dominated north.

Division resulted from various factors including ethnic violence and inability of KFOR and UNMIK (local enforcement officials) to control the situation.

Early in Feb 2000, a rocket propelled grenade attack on a UNHCR (United Nations High Commissioner for Refugees) bus carrying Serbs near Mitrovica killed three and wounded many more. Revenge attacks followed in N. Mitrovica, killing ten Albanians.

In March 2004, protests in Mitrovica between Albanians and Serbs led to two days of Kosovo-wide riots that killed 28 and wounded ~600. These riots represented the worst violence in Kosovo since 1999.

In February 2001, the murder of an Albanian youth in the north led to attacks on French KFOR by the Albanians.

1999

2001

2003

2005

2000

2002

2004

While the violent environment in Mitrovica is not sustainable, situation is also not intractable – solutions can be found. A number of steps have been taken by various NGOs and the UN to maintain unity of the Mitrovica municipality and realize political peace and economic prosperity.

Political leaders in N. Mitrovica formed Bridgewatchers, a group of young men whose purpose was to “protect” the north from extremist attacks. While membership is fluid, estimates place the group at 150 to 250 people.

In April 2002, a routine traffic check escalated into an armed assault by the Bridgewatchers on UNMIK police officers, which wounded twenty-two. This was the worst act of violence against UNMIK personnel since the inception of the mission.

Source: CSCE Kosovo Political Report, June 2002; “Unrest in Kosovo”, Answers.com


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Advancing the Mission» Agenda

  • Introduction

  • Needs Assessment: Background on Northern Kosovo

    • Need for Microcredit Overview

    • Economic Need

    • Social Need

    • Spiritual Need

  • Meeting the Need: Beselidhja/Zavet Microfinance

  • Gracanica Case Study

  • Your Opportunity

  • Appendix


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Economic Need

Social Need

Need for Microcredit

Needs Assessment: Background on Northern Kosovo» Need for Microcredit Overview

Microfinance is a tool that can enhance economic development in Kosovo as a whole and offset the political instability of the Focus Areas.

  • The private sector in the N. Mitrovica region is underdeveloped

    • N. Mitrovica and Zvecan rely heavily on public funding

  • The vast majority of registered businesses in the region are small enterprises in the trade, construction, and manufacturing sector

  • Other businesses include small kiosks and shops that often operate without licenses

  • Demand for credit by small-to-medium enterprises (SMEs) is highest in Prishtina and Mitrovica, suggesting that demand for microcredit is also very high in these areas

  • N. Mitrovica is an unstable area

    • As recently as March of 2004, uprisings occurred between Serbs and Albanians

    • The continuing threat of violence undermines the development potential of the region

    • Discrimination against minority groups, including the Serbs, has created a marginalized segment of society

  • Minority groups in the region continue to be disenfranchised.


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Public Employment

Social Transfer Payments

Private Sector Employment

SOE Employment

International Community Jobs

Needs Assessment: Background on Northern Kosovo» Economic Need

EN

PN

A large majority of total monthly cash income for N. Mitrovican and Zvecan residents is derived from the Serbian Budget (former Yugoslavia) (61.1%), while a smaller share is from non-governmental economic sectors (15.8%). Heavy reliance on the Serbian government discourages Serbs from integrating with the rest of the Kosovo population and government.

Total Monthly Cash Income by Sources, Northern Mitrovica & Zvecan, 2003

€000s

Source: “A Post-Industrial Failure? Economy and Society in Mitrovica and Zvecan”, European Stability Initiative (ESI) Report, January 2004


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Needs Assessment: Background on Northern Kosovo» Economic Need, continued

EN

PN

The N. Mitrovican and Zvecan private economy is less developed than in S. Mitrovica and must rely heavily on the Serbian government for financial aid. As a result, the Focus Areas’ economy is far from achieving self-sufficiency.

Total Monthly Cash Income by Sources, S. Mitrovica vs. N. Mitrovica & Zvecan, 2003

International Community Jobs

SOE Employment

Private Sector Employment

Social Transfer Payments

Public Employment

S. Mitrovica

N. Mitrovica & Zvecan

Total Monthly Cash Income (€000s)

Source: “A Post-Industrial Failure? Economy and Society in Mitrovica and Zvecan”, European Stability Initiative (ESI) Report, January 2004


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Other

Manufacturing

Construction

Wholesale and Retail Trade; Repair

Background on Northern Kosovo» Economic Need, continued

EN

PN

Majority of registered businesses and associated employees are small enterprises in the wholesale and retail trade, construction and manufacturing sectors

Total Registered Enterprises in Focus Areas by Type of Business, 2002

*

Total Registered Enterprises

Avg. # of Employees per Enterprise

Note: *Mitrovica refers to entire Mitrovican province, including both N. Mitrovica and S. Mitrovica; total registered business and employee figures and percentage shares may differ for N. Mitrovica; data broken out for N. Mitrovica is unavailable

Source: Statistical Office of Kosovo “Statistical Overview of Registered Businesses”, 2002


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Needs Assessment: Background on Northern Kosovo» Economic Need, continued

EN

SN

In addition to registered enterprises, private sector in the Mitrovica region is comprised of numerous small entrepreneurial businesses that often operate without licenses

Northern Mitrovica

Zvecan

  • Half of all private businesses in N. Mitrovica are the ~300 small kiosks along sidewalks

  • Remaining businesses include:

    • Metal-processing company, previously an state-owned-enterprise (34 employees)

    • Small textile company (9 employees)

    • Few small construction companies

    • 160 various shops inside buildings

    • 50 cafes, bars and fast-food restaurants

    • 3 hotels and 2 internet cafes

    • Few service businesses, e.g. lawyers, hairdressers, etc.

    • Various tradesmen, e.g. locksmiths, carpenters, and plumbers

    • Fleet of irregular cabs traveling between N. Mitrovica and Zvecan

  • The business climate in Zvecan is similar to that of N. Mitrovica

  • Private sector businesses mostly include:

    • Small kiosks along sidewalks

    • Fleet of irregular cabs

  • There are few remaining SOEs:

    • Trepca, now a debt-laden company that no longer produces (600 employees technically still on payroll)

    • Kosmet Prevoz, which operates buses to Serbia as well as local lines

    • Minel Enim, construction company based in Belgrade

    • Auto Moto Drustvo, automobile association

    • Mlinpek, industrial bakery

    • Lux (98 employees still technically on payroll, with few receiving any salary)

Source: “A Post-Industrial Failure? Economy and Society in Mitrovica and Zvecan”, European Stability Initiative (ESI) Report, January 2004


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Needs Assessment: Background on Northern Kosovo» Economic Need, continued

EN

PN

The demand for microcredit in the region is high based on data on small-to-medium enterprises.

  • Demand in Mitrovica Remains High for Microcredit1

    • A 2001 survey of small-to-medium enterprises found that credit demand per firm remained highest in Pristina and Mitrovica, while credit demand per employee was highest in Mitrovica.

    • Due to the lack of political stability in N. Mitrovica, MFIs have steered away from lending in the Mitrovica area.

    • Using the small-to-medium enterprise market assessment, we can infer that Mitrovica has a relatively high demand for credit in the micro-to-small enterprise market.

Note: 1Results refer to entire Mitrovica region; data specifically on N. Mitrovica is unavailable

Source: Riinvest Institute for Development Research; SME Financing and Development, Prishtina, Kosovo (2001); newSpark Group analysis


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Needs Assessment: Background on Northern Kosovo» Social Need

EN

SN

N. Kosovo has suffered from political instability and racial tension, like in other areas of Kosovo.

  • Pictures from the recent March 2004 riots in Mitrovica and the rest of Kosovo:


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Advancing the Mission» Agenda

  • Introduction

  • Needs Assessment: Background on Northern Kosovo

  • Meeting the Need: Beselidhja/Zavet Microfinance

    • Overview

    • Impact

    • Donors

    • Portfolio Growth

    • Financial Performance

    • Economic Need - Growth by Sector

    • Social Need - BZMF and Diversity

  • Gracanica Case Study

  • Your Opportunity

  • Appendix


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Meeting the Need: Beselidhja/Zavet Microfinance» Overview

BZMF, with an experienced professional team and a proven track record, is poised to make a substantial economic and social impact in the Northern Kosovo Focus Areas through its microcredit loan programs.

  • BZMF’s business model has been successful in many regions of Kosovo, especially the Serb areas.

  • BZMF’s microcredit program can facilitate the economical and social development in the Focus Areas based on the following premises:

    • BZMF has a proven track record in lending to micro and small enterprises, which represents the greatest economic need, yet potential in the Focus Areas

    • BZMF has demonstrated a commitment to ethnic sensitivity and tolerance through its lending practices at BZMF and peace and reconciliation activities through its inter-ethnic business linkage program

  • The BZMF team is highly professional and the only microfinance program with a Serb in the top senior management team.


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Meeting the Need: Beselidhja/Zavet Microfinance» Impact

BZMF’s microfinance program has had measurable impact on development in Kosovo. Both average household income and business growth in successive cycle loans show that BZMF’s clients are growing.

  • Clients have an average net income growth of 103% after just two loan cycles.

    • The average household net income for first cycle loans is €670 per month.

    • After two loan cycles, the average household net income grows to €1,364 per month.

    • These statistics are based on BZMF’s portfolio as of December 31, 2004.

  • BZMF has had a direct impact on generating 318 jobs over the last two years.

    • BZMF only tracks employees who are paid regular salaries.

    • If household members who participate in the enterprises are included, the number would be much higher.

Note: Total monthly net income of active first cycle loans (TNIF): TNIF is derived from the loan application which is used to determine loan amount and term limit during credit committees. This amount is entered into the MIS at every loan disbursement. Number of first cycle loans (NFL). Per MIS

Total monthly net income of active successive cycle loans after the first two cycles (TNIS): TNIS is derived from the loan application which is used to determine loan amount and term limit during credit committees. This amount is entered into the MIS at every loan disbursement.

Number of successive cycle loans after two cycles (NSL): Per MIS. Calculation: [TNIF / NFL = €670; TNIS / NSL = €1,364; €670 / €1,364 = 103%]

Average number of employees for first cycle loans (AEF): For every first cycle loan, the number of employees, if any, is entered into the MIS. From this data entered into the MIS, an average number of employees is calculated for first cycle loans. Average number of employees for all successive loan cycles (AES): For successive cycle loan, the number of employees, if any, is entered into the MIS. From this data entered into the MIS, an average number of employees is calculated for successive cycle loans. Total number of second cycle loans disbursed since January 1, 2003 (TNSL): Per MIS. Only second loan cycles were used because including the third and greater loan cycles would result in double counting the clients. Caclulation: (AES – AEF) x TNSL = 318


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Danish International Development Agency

Meeting the Need: Beselidhja/Zavet Microfinance» Donors

BZMF and World Relief are internationally recognized and funded. A sample of funders for BZMF include:


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Meeting the Need: Beselidhja/Zavet Microfinance» Portfolio Growth

Disbursements of microcredit have grown rapidly from 2000 to 2004 at a 67.7% CAGR. In 2004, BZMF’ portfolio has grown dramatically in outstanding balance (+80%) and borrower base (+73%). The growth is a reflection of the strong demand for BZMF’s financial services.

Total Disbursements to Micro Borrowers, 2000-2004

From a market assessment, BZMF realized that the loan term was one of the major barriers for clients to invest into their businesses in the most effective manner. BZMF responded to this need by increasing its loan terms. Compare to that of 2003, the average term for loans disbursed in 2004 is 50% greater. This change also had the affect of decreasing the number of disbursements in 2004.

Source: MixMarket Data; BZMF CY2004 Annual Report


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Meeting the Need: Beselidhja/Zavet Microfinance» Financial Performance

BZMF’s business model has proven to be highly efficient. Despite increasing expansion in the rural and agriculture markets, BZMF’s operation continues to increase its sustainability.

Organizational Self-Sufficiency, 2000-2004

Financial Performance Indicators, 2001-2003

*

Note: *Loan write-offs were unusually high in 2003 because of an internal fraud issue. We have completely resolved this issue and have implemented proper controls; Organizational self-sufficiency (OSS) = all income (except donor income) / all expenses; Portfolio-At-Risk % = Outstanding principal of loans that are delinquent / total outstanding balance; loans with delinquent payments over 100 euros is BZMF’s house limit.

Source: MixMarket Data; BZMF CY2004 Annual Report


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Meeting the Need: Beselidhja/Zavet Microfinance» Economic Need – Growth by Sector

EN

PN

BZMF offers products that meet the demands of microborrowers in a wide variety of sectors. Over the years, BZMF has diversified its product line and sector outreach, especially in the agriculture sector.

BZMF Sector Growth – Disbursements by Sector, 2000-2003

Other

Manufacturing

Services

Agriculture

Trade

Source: MixMarket Data


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Meeting the Need: Beselidhja/Zavet Microfinance» Social Need – BZMF and Diversity

EN

SN

BZMF is committed to lending to all minority groups in Kosovo, including Serbian and Roma communities, and is involved in peace and reconciliation programs that encourage inter-ethnic business development. BZMF is also committed to providing microcredit to women, who comprise only 6% of all registered business owners.

BZMF Female Borrowers as % of Total, 2000-2004

BZMF Business Linkage Program

  • An inter-ethnic liaison performs business linkages between the Albanian and Serb business people and farmers.

  • Since the beginning of the business linkage program in September 2002, the inter-ethnic liaison has facilitated 30 business linkages, 8 of which resulted in successful business transactions.

# of Female Borrowers

Source: MixMarket Data


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Advancing the Mission» Agenda

  • Introduction

  • Needs Assessment: Background on Northern Kosovo

  • Meeting the Need: Beselidhja/Zavet Microfinance

  • Gracanica Case Study

    • Background

    • Gracanica Results

    • Zavet Business Center

    • “Turkish Delights” Success Story

  • Your Opportunity

  • Appendix


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Gracanica Case Study»Background

BZMF has experience serving minority populations in central and southern Kosovo.

  • Background

    • Since its inception, the Zavet branch has been involved with lending activities to Gracanica, a Serb enclave.

    • BZMF is the only microfinance program that has not only a Serbian operation in Gracanica, but also a Serb senior manager who can give direct oversight to this project.

    • BZMF developed a unique lending practice customized for the Serb community by initially lowering interest rate and making procedural changes in order to comply with the legal environment of the Serb region.

    • As a result, BZMF has the highest number of Serb clientele among all MFIs and Banks in Kosovo.

    • BZMF also markets itself as a local organization, so that it appeals to the Serb communities.


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Gracanica Case Study»Gracanica Results

The Zavet business model is an example of BZMF’s outstanding record serving minority populations.

  • BZMF’s Outreach to Gracanica

    • The Gracanica branch disbursed about €775,500 in loan capital to 578 borrowers for the twelve months ending December 31, 2004.

    • As of December 31, 2004, BZMF had an outstanding balance of €449,345, a portfolio-at-risk (PAR)of 0.30% and no write-offs for the full calendar year.

    • To maintain a lower cost structure, the Gracanica branch serves all the enclaves located in central and southern Kosovo.

Gracanica Disbursement Amounts and Number of Loans, 2001-2003


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Gracanica Case Study» Zavet Business Center

Zavet Business Center also provides access to important services to Gracanica.

  • World Relief has assisted in the development of the Zavet Poslovni Center (“ZPC” translated as Zavet Business Center) in the Serb enclave of Gracanica.

    • BZMF has provided numerous services including:

      • the first ATM to serve this area

      • an internet café

      • a document scanning and copying facility

      • a video and book library

      • land line public phone

      • fax service

      • financial services provided by BZMF

      • computer training

      • English training

      • business training


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Gracanica Case Study» “Turkish Delights” Success Story

Name: Rasim Kosmaqi

Ethnicity: Serb

Age: 53

Sasha Sekulic, a Kosovar Serb, lives in the enclave of Gracanica, located in the center of Kosovo. In November of 2000, Sasha Sekulic took a €800 loan from BZMF to restart a candy factory he had prior to the war. He used the loan to purchase raw materials and Sasha’s business flourished almost immediately. Sasha continued with BZMF and took five more loans, each successive loan larger in amount and longer in term, reflecting the growth of his business.

In addition, partnering with ZPC, BZMF provided business courses to Serbs in Gracanica which Sasha enrolled into and completed. The business principals he learned through these courses has been helpful to Sasha as he dealt with the increasingly complicated financial and business concerns of his growing enterprise. The partnership also offered inter-ethnic business linkages between the Serb and Albanian communities. Through this partnership, Sasha created business relationships with three large Albanian food wholesalers.

Today, Sasha’s business sells his candies allover Kosovo and exports them to countries outside of Kosovo. On average, the factory produces and sells 15 metric tons of Turkish delights every month and employs 15 local Kosovars. Sasha has fully graduated from BZMF and has access to commercial credit from banks to fulfill his capital needs.

Commerce has a profound ability to make people put aside their differences and interact with each other. These interactions form a critical step in promoting peace and reconciliation and hope for future of Kosovo.


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Advancing the Mission» Agenda

  • Introduction

  • Needs Assessment: Background on Northern Kosovo

  • Meeting the Need: Beselidhja/Zavet Microfinance

  • Gracanica Case Study

  • Your Opportunity

    • Northern Kosovo Proposed Office Structure

    • Impact Potential

    • Conclusion

  • Appendix


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BZMF Hub Office in Pristina

Reports to

Zavet Office for Serbs

Gracanica Office

Pristina Office

Reports to

Zavet Office for Serbs

N. Kosovo Office

Your Opportunity» N. Kosovo Proposed Office Structure

BZMF’s proposed office structure will provide customized products for the Serb population and extend inter-ethnic business development.

  • Office Model

    • The Gracanica office is run under the Zavet structure and requires its own audit.

    • The proposed office serving the Focus Areas will report to the Gracanica office.


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Potential Loans for N. Kosovo

Year 1

Year 2

Year 3

Cummulative Loan Disb.

100

800

300

Cummulative Loan Disb. Amount

200,000

500,000

1,200,000

Your Opportunity» Impact Potential

The growth in Gracanica has been consistent and has led BZMF to become the leading lending institution to Serbs among all MFIs in Kosovo. Your contribution can make a significant impact on poverty reduction and economic development in the Focus Areas.

  • In 3 years, BZMF believes it can annual lend in the Focus Areas an estimated 800 loans and €1.2MM Euros, based on similar levels and rates as in Gracanica.

  • BZMF believes this will have enormous impact to the economic development in this region.

  • BZMF believes this development will create an environment where the peace and reconciliation process between the Serbs and Albanians will be facilitated.

Note: Assumptions include the following: 1) Disbursement Amount in Euros; 2) The population characteristics between Gracanica and N. Kosovo are roughly the same; 3) Business characteristics and needs are similar; 4) The competitive environment is similar as well.


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Your Opportunity» Conclusion

Help us transform the economic and social lives of the Kosovars.

  • There exists an enormous potential for development in Kosovo.

  • Microcredit is a tool that can help realize that potential. Microfinance can help lead to a sustainable economy and stable society in the Focus Areas.

  • BZMF is optimally positioned to help Kosovars redevelop their self-sufficient capacity.

  • BZMF needs your financial support and partnership to help serve and grow the underserved economy of the Focus Areas.

  • Your funds will have a direct impact on the economic and social well-being of this minority community.


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Advancing the Mission» Agenda

  • Introduction

  • Background on Northern Kosovo

  • Needs Assessment

  • Meeting the Need: Beselidhja/Zavet Microfinance

  • Gracanica Case Study

  • Your Opportunity

  • Appendix

    • Management Team

    • Governance Team

    • Audited Financial Statements

    • Credits


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Appendix» Management Team

Management Team

John Choi, Director

John Choi has been Managing Director of BZMF since 2002. Before joining BZMF, John started his career in public accounting and financial advisory services at Ernst and Young LLP and eventually moved into M&A, corporate finance, commodity risk management, and equity trading at an investment firm. John is a certified public accountant. John also sits on the board of Kosovo Credit Information Services (KCIS), Kosovo’s only credit bureau, Association of Microfinance Institutions in Kosovo (AMIK) and Zavet Poslovni Center (ZPC).

Driton Fetahu, Pristina Branch Manager

Driton Fetahu has been the Pristina Branch Manager at BZMF since November of 2003. He is responsible for the Albanian lending originations. Prior to coming to BZMF, Driton worked at FINCA as a branch manager. Prior to FINCA, Driton worked at UMCOR Kosovo as the manager for the stabilization income generation program. Driton also worked at Mercy Corp in the agriculture development and housing reconstruction program. Driton has a bachelors in Economics at the University of Pristina.

Dren Spahija, Director of Finance

Dren Spahija has been the Finance Manager at BZMF since April 2003. He is responsible for all financial management and reporting for BZMF. Prior to becoming Finance Manager, Dren managed a private enterprise in Pristina. Dren has a bachelors in engineering at the University of Pristina.

Dragan Grbusic, Zavet Program Manager

Dragan Grbusic has been at BZMF since December of 2000. He is responsible for the Serb lending originations. Prior to coming to BZMF, Dragan was an engineering manager at the Kosovo power plant. Dragan has a bachelors in engineering at the University of Pristina and a masters in engineering at the University of Nis, Yugoslavia.


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Appendix» Governance Team

Governance Team

Kenneth L. Graber, Microenterprise Development Director, World Relief

Ken Graber has over 35 years of experience in agricultural and microenterprise development. He has been the Microenterprise Development Director at WR since 1989. Mr. Graber administers the centrally-funded WR MED programs and oversees the MED Service Team (MEDST) that is responsible for the technical management of all WR Microcredit operations. Prior to joining WR, Mr. Graber was Associate International Division Coordinator-International Program Manager at Mennonite Economic Development Associates (MEDA). His role also included providing administrative oversight to MEDA programs in Paraguay and Uruguay. Mr. Graber holds a masters degree in Agricultural Economics from Purdue University and is fluent in Spanish and English.

Robert Gailey, Director of MED Consulting, World Relief

Robert Gailey serves as Director of Microcredit Consulting Services. Rob has worked for more than 8 years in economic development, including 2 years as Research Director for the global Microcredit Summit Campaign. Rob has experience in the area of poverty measurement tools and has traveled extensively to provide training and evaluations for Microcredit programs.


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Credits

This report was completed by New Spark Group, a general non-profit management consulting firm based in New York City. The thoughts expressed in this presentation do not necessarily represent those of BZMF nor World Relief.

Project ContactsDaniel [email protected] [email protected]


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