Kaja Kulić

Thank you for your loan. It has been disbursed to Kaja Kulić by Zene za Zene, a partner of Women for Women International in Bosnia and Herzegovina. We are excited to watch this business grow. Over the 11 months of this loan, Zene za Zene, a partner of Women for Women International will be collecting repayments from this entrepreneur and posting progress updates on the Kiva website.

This loan has been refunded for the following reason:

Your loan has been refunded because Kiva recently paused its partnership with Zene za Zene who manages this loan on the ground. The reason for this action is as follows:

Many countries in Eastern Europe have been hit particularly hard by the global economic crisis. Kiva’s Field Partners in this region have struggled with increased delinquency, diminished remittances, and currency devaluation. In particular, Zene za Zene, a partner of Women for Women International and Kiva’s field partner in Bosnia-Herzegovina, has experienced a significant increase in delinquency due to the over-indebted position of many of their borrowers.

While Zene za Zene works to correct their increased delinquency, Kiva believes it is necessary to place Zene za Zene in a “Paused” status. Kiva understands that Zene za Zene is working towards stabilizing its loan portfolio and once Kiva determines the situation is resolved, Kiva will consider restoring Zene za Zene to “Active” status.