Agriculture is one of the key sectors of the Serbian economy, accounting for up to 15.5% of the country’s GDP. Serbia is also the largest grain producer in the region.
The new €70m risk-sharing framework will be used to finance the seasonal working capital needs of Serbian agricultural companies through participating partner banks.
Following a successful policy dialogue led by the EBRD with the Serbian Ministry of Agriculture alongside international donors, relevant legislation for the development of warehouse receipt-based lending was adopted in 2009 and an indemnity fund was established.
The implementation of warehouse receipt system in Serbia is currently ongoing, with continuous support from the EBRD. By the end of 2010, Serbia is aiming to achieve a storage capacity in public licensed warehouses of 600,000 tonnes.
© FoodBev Media Ltd 2019
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