Vojvodina Development Fund
Vojvodina Development Fund was founded by the Assembly of Autonomous Province of
Vojvodina in 2002 in order to create the conditions needed to encourage the economic
development of the Autonomous Province of Vojvodina. Business operations of the
Fund are implemented in accordance with the annual programme of activities which
specifies the types and scope of operations, along with the amount of funds required
for the implementation of operations contained in the programme for the ongoing
year. On 31st December 2010, the amount of the Fund's capital was 64,300,000
EUR. The Managing Board is in charge of the Fund's management. The activities
performed by the Fund are public.
Provision of loans for development programmes and projects in the field of agriculture,
production, processing industry and services.
PURPOSE OF ESTABLISHMENT
To provide incentives for economic activities, increase the employment, increase
the technical capacity level, improve the utilisation of existing capacities, provide
incentives for export, ensure import substitution, save energy and ensure environmental
SOURCES OF FINANCING
Sources of financing used so far for the implementation of the Fund's activities
and the funds earned through the sales of the entities in the process of privatisation
seated on the territory of the AP Vojvodina, as well as funds earned through collection
of due loan interests.
Other potential sources of financing include the following: funds earned through
issuing and transaction of securities; funds gathered through domestic and international
credits and loans; funds earned through sales and renting of movable and immovable
property for which the Fund obtained the property right; funds obtained from international
financial organisations, financial institutions, fund from donations and donor states
earnmarked for the implementation of regional development programmes.
USERS OF THE FUND'S RESOURCES
Small and medium-sized enterprises, entrepreneurs, agricultural cooperatives, individual
agricultural farm holders, seated or with residence on the territory of the AP Vojvodina.
PLACEMENT OF FUNDS
Vojvodina Development Fund places the loan funds through calls for proposals. Calls
for proposals are invited for any type or purpose of placement and contain clearly
defined loan provision requirements (application procedure, deadlines, possible
loan amount, interest rate, funds to provide loans). The financed programmes are
implemented on the territory of the AP Vojvodina.
CALLS FOR PROPOSALS AND LOANS OF AP VOJVODINA DEVELOPMENT FUND IMPLEMENTED SO FAR
The total of 50 calls for proposals were launched – 34 of them aimed at long-term
and 16 at short-term loan provision.
The total of 5,340 loans was executed, of which 4,324 were long-term and 1.016 short-term
loans. The amount of total funds placed is 251,665,000 EUR, of which 143,970,000
EUR were placed through long-term and 107.695,000 EUR through short-term loan provision.
Long-term loans were used to finance the development programmes in the field of
production and processing industry, services, primary agricultural production, as
well as for the purpose of establishing small and medium-sized enterprises and promotion
Short-term loans were used to finance the field of agriculture and export programmes.
Vojvodina Development Fund
Hajduk Veljkova 11, 21000 Novi Sad, Serbia
Phone: +381 21 4830 666
Fax: +381 21 4830 649