AmCham meets US Development Finance Corporation and Export-Import Bank
By AmChamPublished On 22/09/2020
As part of a visit to Serbia by a US Government delegation that followed closely after the signing of the Washington Agreement. The meeting focused on economic issues and explored options for enhancing regional economic co-operation and allowing greater movement of people, goods, capital, and services. The DFC and EXIM presented their project finance arrangements and the DFC formally established its Belgrade office. AmCham members delivered brief presentations to familiarise the visiting US officials with the state of the local market and potentials for growth in each area.
The US delegation expressed great interest in opportunities in ICT and digital transformation, the hospitality industry, and other sectors that AmCham members operate in. The meeting agreed the opening of the DFC’s Belgrade office would send a positive message to both investors planning to enter Serbia and the region and those intending to grow their existing businesses here. The presence of this high-profile US financial institution in Belgrade will place Serbia firmly on the map as a desirable investment destinations, and this will not only allow more foreign direct investments, which have in recent years accounted for a major proportion of Serbia’s GDP, but also permit a much-needed increase in domestic investment.
The DFC helps businesses in a variety of ways, including through direct equity financing, loans and guarantees with long tenors, political risk insurance, and technical project development. The DFC partners directly with the private sector, primarily in emerging markets. It invests mainly in infrastructure, agriculture, healthcare, and advanced technology. The DFC works closely with commercial banks to provide opportunities for small businesses and women entrepreneurs. Going forward, American companies planning to invest in Serbia and across the region will be able to benefit from the DFC’s knowledge of local investment opportunities to help them make informed decisions.
Apart from the DFC, EXIM, and the US Embassy in Serbia, on the AmCham side the meeting was attended by officers of Raiffeisen Bank, Philip Morris, IHG, NCR, and SBB.