On January 21, Minister of Finance Sinisa Mali and U.S. Ambassador to Serbia Anthony F. Godfrey signed a new Investment Incentive Agreement (IIA) enabling the U.S. International Development Finance Corporation (DFC), America’s development bank, to deploy its full range of financial products in Serbia.
“DFC is pleased to have the IIA between Serbia and the United States in place, solidifying the U.S. commitment to expand the financial tools available for the development of Serbia’s economy, especially its private sector” said Ambassador Godfrey. “We see great potential for DFC to help mobilize investments that create jobs and support development for the people of Serbia,” added John Jovanovic, DFC’s Deputy Vice President and Managing Director for the Western Balkans and Aegean.
U.S. law requires any country, including Serbia, to enter into an IIA with the United States in order for DFC to provide its entire range of financial products, which includes debt financing, equity investments, political risk insurance, and grants for technical assistance.
Launched in 2020, DFC partners with the private sector to finance solutions to the most critical challenges facing the developing world today. It invests across sectors including energy, healthcare, critical infrastructure, and technology. DFC also provides financing for small businesses and women entrepreneurs to create jobs in emerging markets. All its investments adhere to high standards and respect the environment, human rights, and worker rights.