News from LOK


The most affordable loans for agriculture

In the first half of December the sixth IFAD / OPEC project in Bosnia and Herzegovina was presented. The project’s title is "Improving living conditions in rural areas" and provides a set of components and sub-components that will help improve life in the rural areas.

IFAD, the International Fund for Agricultural Development is the member of the UN, which helps reduce poverty in the underdeveloped areas. In Bosnia and Herzegovina IFAD is present since 1996, and all projects for the Federation of Bosnia and Herzegovina are organized and coordinated by the Project Coordination Unit - PCU at the Federal Ministry of Agriculture, Water and Forestry.

LOK MCF is the only microfinance organization that has been chosen to cooperate in the implementation of the sixth project in the Federation of Bosnia and Herzegovina. Previous experience, very successfully implemented project and thousands of satisfied farmers in Una-Sana Canton and Herzegovina region enabled LOK MCF participation in a new and broader territorial project that includes new 15 municipalities: Olovo, Zepce, Zavidovici, Maglaj, Fojnica, Kresevo Kiseljak , Busovaca, Novi Travnik, Travnik, Vitez, Jablanica, Konjic, Mostar, Prozor Rama.

LOK MCF will enable to all hard working and enterprising farmers from these municipalities access to affordable loans for the purchase of livestock, purchase of agricultural machinery, renovating stables, planting of berry and soft fruit, building glasshouses and all other activities related to agriculture. An extremely important feature of these loans is a grace period of up to 18 months.

The project includes components besides loans and programs that relate to help farmers through training, development of managerial skills of farmers' associations and small and medium enterprises.

The total value of the project for the Federation of Bosnia and Herzegovina is KM 24.5 million and will run until 2015. Grants and trainings are up to value of 700.000KM, 400.000KM for certification, and for infrastructure projects and loans KM 10.2 million each.

LOK MCF representatives together with representatives of the PCU and Odraz have in the previous period visited all the project’s municipalities and held meetings with a large number of farmers, agricultural associations / cooperatives, representatives of the municipality according to the following schedule:

- Tuesday, 04.12.2012. at 10:00 am, Kresevo
- Wednesday, 05.12.2012. at 09:00 am, Konjic
- Wednesday, 05.12.2012. at 13:30 pm, Prozor-Rama
- Thursday, 06.12.2012. at 09:00 am, Novi Travnik
- Thursday, 06.12.2012. at 13:30 pm, Travnik
- Friday, 07.12.2012. at 09:00 am, Vitez
- Friday, 07.12.2012. at 13:30 pm, Busovaca
- Monday 10.12.2012. at 09:00 am, Mostar
- Monday 10.12.2012. at 13:30 pm, Jablanica
- Wednesday, 12.12.2012. at 09:00 am, Fojnica
- Wednesday, 12.12.2012. at 13:30 pm, Kiseljak
- Thursday, 13.12.2012. at 09:00 am, Olovo
- Thursday, 13.12.2012. at 14:00 pm, Zepce
- Friday, 14.12.2012. at 09:00 am, Zavidovici
- Friday, 14.12.2012. at 13:30 pm, Maglaj.


Merger by acquisition of Microcredit Foundation "Zene za zene International"

Banking Agency of the Federation of BiH (FBA) had issued on October 16, 2012, approval for the status change through merger by acquisition of Microcredit Foundation "Zene za zene International" Sarajevo by "LOK Microcredit Foundation" Sarajevo. With the FBA permit obtained, both MCF boards are to verify their final decisions next week based on which an application will be filed for the status change entry into the MCF Register with the Federation Ministry of Justice.
Consolidation at the level of the MFI, especially the middle size MFI, is necessary to stabilize the microcredit sector in order to achieve economies of scale, improved efficiency of the MFIs through significant cost savings and improved loans offer for the benefit of clients of microcredit beneficiaries.


Little fighters for the better future

LOK MCF’s management and employees have decided same as in the previous years, to donate the money intended for sending Eid greeting cards to those that are in need of any kind of help.

In the month of Ramadan LOK MCF employees visited the family Sljivo living in Sarajevo. The story of a single mother Mehira and her four children fighting for a safer future does not leave anyone indifferent. The family lives in a rented apartment after two stays in the safe house and survives from the occasional sale of homemade cakes and help from good people. Each new day is a new challenge for the twins Ajša and Ahmed (1), Ahdar (7), Adla (9) and their mom. They do the best they can to face all the life challenges and I can, but sometimes it’s not easy to fight alone... The new school year is already a big concern and the reason of many sleepless nights. How to bake enough cakes for one book and one notebook... And so many book need to be bought.

LOK MCF’s employees acted fast and in 2 days collected: money, food, clothes and toys that were given family Sljivo on 17th of August. Smiles on children's faces spoke 1000 words while tiny hand went through the bags, and Mehira’s eyes shone with happiness. At least in one day kids and mom felt they were not alone and that there are always people with good heart who would do anything for the children smile.


Banja Luka at the new address

 From 12th May our clients in the area of Banja Luka can visit us in the new business premises at the address - Jovana Ducica 2. Better location will enable us definitely to be more accessible to those who have a need for additional funds.


New location in Sarajevo

Since beginning of the May, MCF LOK office in the municipality of Novi Grad Sarajevo is located at the new and excellent location at the address - Dr Fetaha Bećirbegovića 19a. The new, larger and more attractive business premises will allow us to be even faster, even simpler and more accessible to our clients.

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