Financial Markets Development
The USAID Business Enabling Project will help the Serbian financial market to increase competitiveness, affordability of financial services and possibilities for development of risk management instruments.
Main counterparts:
- Ministry of Finance,
- Ministry of Agriculture, Trade, Forestry and Water Management,
- National Bank of Serbia,
- Securities Exchange Commission,
- Market participants and other stakeholders
Main tasks of the Component 3 team are: to help counterparts implement new legislation, strengthen their capacity, and help to influence policies that will shape the evolution of the financial sector and its role in economic development.
Project goals by year 2015 include:
- Establishment of a regulatory framework and supervisory capacity that supports development of: 1) a robust, well regulated capital market through which healthy, transparent, and competitive export oriented businesses can access equity and/or debt financing and 2) a funds management industry that can mobilize savings and supply new financing in the economy.
- Creation of an enabling regulatory environment for non-bank credit providers – e.g. microfinance institutions and/or other types of credit providers – and improvements in access to credit for small and medium-sized companies.
- Development of capacity within the Government of Serbia and among market participants to structure and sell government bills, notes, and bonds in the capital market, at lower rates if possible, to retail and institutional investors.
- Improvements in the instruments and mechanisms available to businesses and financial institutions to manage market and/or commodity price risk without direct government interventions.
- Improved policies and better public-private dialogue that will shape long-term development of financial sector and its role in helping the Government of Serbia to realize macroeconomic goals.
Publications
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