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Assisting Economic Development in Macedonia

Feb 25, 2018

USAID recently launched two new projects -- the Business Ecosystem Project and Factoring Project -- that will support micro, small and medium enterprises access diversified sources of finance in Macedonia. The Business Ecosystem Project is a four-year activity that will endeavor to transform the competitiveness of micro, small, and medium enterprises in Macedonia by strengthening business services, finance, and market linkages to catalytically increase their growth, productivity and generation of employment.

The project will work with traditional and alternative financial instruments and with micro, small and medium enterprises to ensure appropriate sources of financing are available and accessible for their business expansion.

USAID Country Representative David Atteberry. (File)
USAID Country Representative David Atteberry. (File)

The Factoring Project is a three-year activity that will support small and medium enterprises by educating and informing them about alternative access to financial options. Factoring supports the growth of companies by providing quick access to finance and accelerating the flow of cash needed by companies so they can grow more efficiently.

“The difficulty with accessing finance is among the most commonly cited obstacles to business expansion in the country, especially for micro, small and medium enterprises,” said Director of the Office for Development Edward Gonzalez.

“That is why in its 25 years in Macedonia USAID has consistently included an access to finance component in its economic development projects. We have always believed that access to different kinds of finance specifically tailored to micro, small and medium enterprises is an extremely important element in their development.”

The United States is proud to work with its partner Macedonia to foster and develop the amazing economic potential of the people of Macedonia.