USAID Serbia and Montenegro
Support to companies (Serbia) in vulnerable areas increased their competitiveness. 2008 sales at trade/shows fairs for assisted companies up 42%. | Economic systems (Serbia): Helped introduce: VAT; private pensions; investment funds; sound insurance industry, bankruptcy and enforcement and modern payment systems. | Opportunity Bank (Serbia) loans created 5,000+ new jobs and ensured 40,000+ existing jobs were kept. Only lender for vulnerable people who have little access to credit. | Corporate Social Responsibility (CSR) (Serbia): Civil Society activities have brought together 14 major companies and an array of NGOs to establish culture of CSR. | Preparedness Planning (Serbia): USAID works with all levels of government to improve disaster risk reduction, trained 675 responders from 50 Municipalities on disaster management. | Civil Society Grants (Serbia): USAID assisted 160 Civil Society organizations with $5.2 million in 2.5yrs to better represent the needs of ordinary people & become more influential partners with businesses and government in the democratic process. | Media (Serbia): USAID media assistance has contributed to more independent, professional and financially viable media outlets and media associations. The regulatory environment now better supports the development of e-media; 2,000+ media professionals trained. | Court Reform (Serbia): U.S. assistance helped increase independence and the professional skills of judges, magistrates and prosecutors; provided legal assistance to victims of war crimes and human rights abuses. | Local governments (Serbia): Through work with a wide geographic spread of municipalities, local governments are now more responsive: 30+ Citizen Assistance Centers, E-government in 80+ Municipalities. | Youth (Serbia): Junior Achievement in 90 schools in 2009. USAID supports efforts of the Ministry of Youth/Sports to better prepare youth for post-graduation work opportunities. | Agribusiness (Serbia): Serbian companies assisted made $16.7m in registered sales in 2008. Recent trade shows expected to bring over $17m in contracts. | Local Economic growth (Serbia): Municipalities in USAID’s Municipal Economic Growth Activity attracted over 800m Euro in investments and created over 11,000 jobs in two years by becoming more business friendly; 270 new businesses opened; 26 Local Economic Development offices set up to actively attract investments. | Commercial Courts (Serbia) have become more efficient and transparent with Case Management Systems in all 16 courts and the High Commercial Court. Case backlogs cut drastically. | Compete Project (Serbia): Helping to bring Serbian companies back into world market – leading directly to $20.5m in 2008 exports. Helping to introduce International Industry standards that allow companies to compete in the global marketplace. Attracted major film productions and millions in investments. |
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    Small Enterprise Assistance Funds (SEAF)

    Provides equity and quasi-equity (long-term debt) financing to small and medium enterprises in Serbia and in the region in accordance with the Fund’s investment policy

    Project components:

    • Financing small- and medium-sized enterprises in a diversified range of industries which show the potential for growth and meet fund criteria
    • Training management at participating enterprises
    • Promoting job creation within portfolio companies and more broadly through suppliers, distributors and other stakeholders

      Key results to date:

      • Committed investments of nearly 4 million in equity capital to 4 enterprises (SMEs)
      • Increased value of the companies, while contributing more than 20% to the expected return to investors
      • Installed corporate governance systems in the companies (from having no formal board structure to having one)
      • Provided training programs to about 200 employees at the participating enterprises
      • Created well managed businesses with global connections (8% average annual revenue growth rate)
      • Created businesses that will generate sustainable employment opportunities (7% average annual growth rate in number of employees)
      • Provided the companies with USG assistance to: 1) improve their management practices, 2) access bank loans or private equity, and 3) invest in improved technologies.
      • Leveraged the USAID investment with investments from other global developmental and financial institutions (such as FMO, SECCO, and FinnFund), at a ratio of more than 1:4.

        To achieve the goals of this project, USAID works with Serbian businesses and business associations and potential international investors and partners

        This project began work in 2005 and is implemented by The Small Enterprise Assistance Fund (www.seaf.com)