DEVELOPMENT FINANCE CORPORATION (DFC)
New Approach
To Promoting Growth
MINISTER OF FINANCE OF THE REPUBLIC OF SERBIA SINIŠA MALI, WITH REPRESENTATIVES OF THE DFC AND EXIM, THE EXPORT-IMPORT BANK OF THE UNITED STATES
DFC and the authorities of Serbia and Kosovo are currently discussing four projects to which DFC could contribute, thus enhancing the region's growth and development while promoting the rule of law and fair business practices
T
he U.S. International Development Finance Corporation (DFC) opened an office in Serbia this September, while DFC and the Export-Import Bank of the United States (EXIM) recently signed Letters of Intent (LOIs) with Serbia and Kosovo, in order to help finance the important projects identified through the U.S.-brokered agreement on the normalization of economic relations between Kosovo and Serbia,
30 |
ROAD TO NEW PARTNERSHIP
signed in Washington on September 4th by Serbian President Aleksandar Vučić and Kosovo Prime Minister Avdullah Hoti. Speaking in a recent press briefing, DFC Chief Executive Officer Adam Boehler said that four projects are currently being discussed in Serbia and Kosovo. The first two are the Peace Highway and the railway connecting Serbia to Kosovo. Some projects are already underway and are multi-phased, and DFC’s approach to them will aim to broaden the financial tools and resources available to both sides, in support of their efforts to better lay the groundwork for enhanced economic cooperation. The third project is a lending framework to help support small and medium-sized enterprises and so-called local small–mid caps. Here DFC is reviewing a proposal tabled by the Serbian Government. Lastly is a project representing an effort to better promote entrepreneurship between young Serbs and Kosovars, both cross-border but within Kosovo. DFC is a fairly new agency that emerged via the BUILD Act
