From: Exit News
The European Union has approved a €10 million guarantee package that will allow businesses that employ or offer training to young people in Albania, Kosovo, and Bosnia Herzegovina to benefit from €85 million in loans on favorable terms from local banks.
It is estimated that 1200 small and medium businesses (SMEs) will benefit from these loans, allowing them to create training, internship, and employment opportunities for about 1300 young people.
99% of businesses in the Western Balkans are small or medium enterprises and employ 70% of the workforce.
Meanwhile youth unemployment rates in the region are among the highest in the world, ranging from 28.3% in Albania to 55.4% in Kosovo.
