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Produce companies learn how to access finance.

To help agribusiness companies learn about opportunities available on the Macedonian financial market to address their financial needs, the USAID AgBiz Program held a matchmaking forum.

Representatives of leading Macedonian banks and financial institutions, including the Macedonian Bank for Development Promotion (MBDP), Agricultural Credit Development Fund (ACDF), NLB Leasing, Saving House Moznosti, and Crimson Development Foundation, presented their corporate financial products and services to representatives of more than 30 companies from the fresh fruit and vegetable and processed vegetable value chains.

One of the key topics was factoring, a financial product the MBDP recently introduced with USAID support, which enables exporting companies to access finance without additional guarantees and collateral.

"Access to financial products tailored to the needs of the company is critical to the success of any agribusiness," said USAID Economic Growth Officer, Joseph Lessard. "Awareness and utilization of local financing options can ensure a firm's continued growth, competiveness, market access, export expansion, and most importantly, job creation."

The USAID AgBiz Program, through the Innovation Center, a local non-governmental organization, will continue to facilitate access to finance for Macedonia's fresh fruit and vegetable and processed vegetable companies. The Center's Financial Facilitators are assisting the companies to develop bankable business plans, which are indispensible for accessing locally available financial products.
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Title Annotation:AGRICULTURE
Publication:Macedonian Business Monthly
Date:Dec 1, 2011
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