Sitemap

DFC Announces Partnership With Four Commercial Banks

Donation Agreement Signed For The Fourth Section Of Trans-Balkan Corridor

The Minister of Mining and Energy Dubravka...

Serbia Celebrates The Chinese New Year

With the warm wishes of Chinese Ambassador...

Serbia Has 500 Tons Of Gold In Existing And Potential Deposits

According to the latest estimates of the...

The Japanese Imperial Family Publicly Recited Their Poems

Japan's Emperor Naruhito recited his poem at...

Celebration Of Republic Day Of India

The Embassy of India India in Belgrade celebrated the 74th Republic Day of India on 26 January 2023 to commemorate the coming into...

Spectatular Mileston In First Boeing 767 Conversion In Europe Marked At Ceremony In JAT Tehnika

Avia Prime Group, one of the leading organizations for aircraft maintenance in Europe, consisting of three eminent companies including...

Ministry Of Mining And Energy And USAID Forge Energy Partnership

The Ministry of Mining and Energy (MoME) and the United States Agency for International Development (USAID) signed a Memorandum...

Donation Agreement Signed For The Fourth Section Of Trans-Balkan Corridor

The Minister of Mining and Energy Dubravka Đedović, the Minister for European Integration Tanja Miščević, the director of Elektromreža...

Serbia Celebrates The Chinese New Year

With the warm wishes of Chinese Ambassador H.E. Chen Bo and Prime Minister of Serbia Ana Brnabić to strengthen...

U.S. International Development Finance Corporation (DFC) announced the launch of four new loan portfolio guarantees with ProCredit, Addiko, Banka Intesa and Raiffeisen banks, in partnership with the Serbian Ministry of Finance and USAID Serbia.  

The DFC guarantees will catalyze up to $272 million for small and medium sized enterprises across Serbia, including women-owned businesses, businesses in rural areas, and farmers. The program will help Serbian companies access financing to grow by introducing new technologies, developing new products, and meeting changing market demands, both domestically and internationally.  

“The launch of this loan portfolio guarantee is of enormous importance for the Republic of Serbia and its economy. We expect that this project will contribute to the further stabilization and strengthening of our economy and entrepreneurship in Serbia, after the corona virus pandemic and during the current global economic crisis. This project is proof that the American administration has confidence in the economic reforms we are carrying out in Serbia that have contributed to making Serbia an attractive investment destination. We believe that the launch of this portfolio guarantee proves the good and quality relations between our two countries, the Republic of Serbia and the United States of America, and that in the coming period we will have more joint high-quality projects,” said Siniša Mali, Minister of Finance.

Thanking the Ministry of Finance, the DFC and the banks for agreeing to establish this loan guarantee facility, Ambassador Hill emphasized the importance of such financing for Serbian businesses, “SMEs are really the heart of a modern economy. People with the capacity to come up with ideas and get those ideas to the marketplace and to move quickly with those ideas…. the issue is how to find the funds and how the process can be streamlined. Because if you have an idea on Monday, you better have an idea of how you’re going to fund it on Tuesday. If you don’t – someone else will,” said U.S. Ambassador Christopher Hill.

By sharing the risk, the DFC guaranties will enable banks to lend to underserved businesses, institute longer term lending, provide better lending terms, and expand operations — including in some of Serbia’s more underdeveloped regions. 

Read more...

USAID And Youth With Disabilities Forum Launched Project To Empower Persons With Disabilities

the United States Agency for International Development (USAID) and the Youth with Disabilities Forum launched a four-year, $2 million Economic Empowerment of Persons with...

Siniša Mali, Minister Of Finance Of The Republic Of Serbia

I Don’t Expect A Recession

We mustn't lose what we've already achieved, and that's full employment and economic growth. Even though much of this doesn't depend on us, we...

DFC’s Deputy Vice President of the Mission Transaction Unit Maryam Khosharay said, “DFC is proud to partner with these four banks and USAID Serbia to support Serbian businesses. This partnership will unlock new financing opportunities for small and medium sized enterprises, strengthening the Serbian economy.”   

Complementing the loan guaranties, the USAID-funded Big Small Business project will help identify the most promising entrepreneurs and businesses for financing, especially in less developed regions in Serbia and provide technical assistance to businesses, helping them meet the necessary standards to access the available financing. 

Photo: www.mfin.gov.rs /Tanjug

Related Articles

Ministry Of Mining And Energy And USAID Forge Energy Partnership

The Ministry of Mining and Energy (MoME) and the United States Agency for International Development (USAID) signed a Memorandum of Understanding (MOU) today to...

Considering The Complex Global Situation, What Provides Us With Reason For Optimism As We Enter 2023?

Peace, Dialogue And Cooperation

The world belongs to optimists, pessimists are only spectators ~ Francois Guizot In a year when it appeared as though one crisis – the one...

H.E. Christopher R. Hill, Ambassador Of The U.S.

Always Looking Forward

I’m sure 2023 will bring many challenges, as in years past, but I am optimistic that, by working together, Americans and Serbians will not...

30 Years Since The Signing Of The NAFTA Agreement Marked In Belgrade

Celebrating 30 years since the signing of the NAFTA agreement is proof of the common belief that trade agreements represent a cohesive factor in...

Human Rights Day Marked

The International Committee of the Red Cross (ICRC) organized the celebration of Human Rights Day on the banks of the Sava in Belgrade and...

Ambassador Christopher Hill: Open Balkans A Necessary Process

Open Balkans initiative is a necessary process that is in no any way competition to the Berlin Process, said the US Ambassador to Serbia...

USAID And Youth With Disabilities Forum Launched Project To Empower Persons With Disabilities

the United States Agency for International Development (USAID) and the Youth with Disabilities Forum launched a four-year, $2 million Economic Empowerment of Persons with...

Foreign Investors Council In Serbia Celebrates Its 20th Anniversary

The Foreign Investors Council in Serbia (FIC) marked 20 years of operations with a ceremony held at Hyatt hotel. At the event awards for cooperation...