The Ana and Vlade Divac Foundation has received technical support from the USAID Competitive Economy Project to partner with local authorities to set up four funds in Vranje, Prijepolje, Svrljig, and Ražanj worth a total of 12 million dinars ($117,000). In the coming year, the Vranje and Prijepolje funds will see investments of an additional 3 million dinars ($292,000).
Agreements were signed in early 2022 to create support funds in Užice, Brus, Dimitrovgrad, and Veliko Gradište, which will become operational during the year. The nine funds established to date have a combined value of 35 million dinars ($340,000).
The local funds aim at supporting farming and helping farmers and agribusinesses grow their businesses and develop new products, securing more stable livelihoods for their families and enhancing quality of life in rural communities. This alternative financing model offers revolving multi-annual support for farmers by extending interest-free loans that are repaid into the fund after the first year for reuse by other farms.