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The Government of the Republic of Serbia

In the service of citizens

New DFC guarantee scheme to strengthen Serbian economy

Belgrade, 14 December 2022

Deputy Prime Minister and Minister of Finance Sinisa Mali and Minister of Agriculture, Forestry and Water Management Jelena Tanaskovic spoke today with Deputy Vice President of the US International Development Finance Corporation (DFC) Maryam Khosharay about the economic situation, as well as the implementation of the guarantee scheme intended for small and medium enterprises in Serbia.

Mali informed Khosharay about the economic situation in Serbia and the macroeconomic results, and especially pointed out that, despite the crisis, unemployment is at the level of 8.9 percent and is at a historic minimum.

He underlined that Serbia is the absolute leader in the region in terms of the number of foreign direct investments, stating that the public debt is under control and is below the level prescribed by Maastricht.

According to his words, such joint projects are an important signal in order to move forward together, and such activities should be continued in the future.

Khosharay explained that the intention of DFC is to help companies in Serbia and to strengthen the economy, and that in this way successful companies are created.

The guarantee scheme, which was officially presented to the public yesterday, will be available to micro, small and medium enterprises, with a special focus on agriculture, underdeveloped regions, sustainable development, startups, as well as companies run by women.

Loans for working capital and investments will be available to companies for a period of six months to ten years.

The total amount allocated by the DFC to the project is $400 million, of which $272 million will be released now, with 21.51 percent of the total amount allocated to the agricultural sector, 10.29 percent to sustainable development, 8.53 percent to companies leading women, and 7.06 percent to underdeveloped regions.