USD 400 Million Expected from U.S. International Development Finance Corporation by the End of Year

Serbian Finance Minister Sinisa Mali has stated that the first part of the guarantee scheme of the U.S. International Development Finance Corporation (DFC), in the amount of USD 400 million, will most probably become available to Serbian companies by the end of the year.

– We are now in the final negotiations about a big agreement that we need to sign with them, after which the signing of individual agreements with commercial banks is to follow, and I expect that we will have USD 400 million from their guarantee scheme available to micro, small and medium enterprises by the end of the year – Mali said for Tanjug.

Mali says that the amount of USD 400 million will become available to Serbian companies at very favorable conditions for working assets and liquidity, but also for investments.

When asked whether the realization of the arrangement agreed with the DFC could be faster, Mali reminded that the U.S.A. had gone through a change of administration and that the process had slowed down the realization of the agreement.

– The new administration has confirmed that they are fully dedicated to this program, both for our country and for the entire region – Mali said and added that the pandemic had also slowed down the realization.

Mali says that the presence of the DFC is of great importance for the credibility of Serbia, but also for the growth and development of our small, medium and large companies.