For years, Kosovo was the only country in the Western Balkans without a sovereign credit rating. This has limited economic prospects as most international financial institutions could not approve large loans, investments, or business expansions in Kosovo without such an assessment of the country’s ability to repay debts. To remove this barrier to growth, USAID provided technical and financial support to enable Kosovo to secure a sovereign credit rating in April 2024.
That month, Kosovo received a BB- credit rating from Fitch Ratings following months of collaboration between USAID’s Investment Promotion and Access to Finance Activity and Kosovo’s Ministry of Finance. The rating marks a historic achievement in the country’s economic history and places Kosovo favorably among its neighbors in the Western Balkans. With the new rating, the government will be able to better access financing to support education, health care, and other public services, while also making it possible to attract far more foreign investment.
Speaking at the official launch of the rating, USAID Kosovo Mission Director Eileen Devitt said that she viewed the rating as “part of a much broader, multi-decade effort to ensure the private and public sector have the investment and finance opportunities needed to support economic growth.” She further noted that the rating was the latest in a long line of USAID-supported economic successes in Kosovo that included the founding of Kosovo’s first commercial bank and its credit guarantee fund.
Through greater integration into global economic systems secured by this rating, Kosovo can look forward to more resources to support both robust public services and private sector growth. This achievement demonstrates Kosovo's determination to move towards a more prosperous future and underscores the power of collaboration in overcoming fundamental challenges to growth.
Dt Global for USAIDKosovo