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Municipal Improvement and Revival Programme (MIR) in Southern Serbia
Commissioning Unit: Serbia
Evaluation Plan: 2005-2010
Evaluation Type: Project
Completion Date: 11/2006
Unit Responsible for providing Management Response: Serbia
Documents Related to overall Management Response:
1. Recommendation:
Management Response: [Added: 2009/08/18]

Key Actions:

2. Recommendation: 1) Clarify legal setup: At present GF is a public institution. Due to its activity, being commercial, it must be transferred to the private sector. Specific precautions must be organised to preserve the funds granted for reallocation to a "social" project in the case of a sale or of a closure of the GF. 2) Organise proper funding: A combination of grants and (soft) loans is necessary to enable sufficient activity. A satisfactory leverage ratio on deposits towards guarantee endorsement should be negotiated. 3) Organise proper income: This would include to obtain improvement in remuneration of deposit, revise guarantee fees, improve the GF team productivity and diversify activities. 4) Provide Technical Assistance: The Technical Assistance should include institution building and restructuring, training and transfer of experience and participation in negotiations with partners.
Management Response: [Added: 2009/10/19]

A decision to further fund the GF implies that it must reach self-sustainability.

Key Actions:

Key Action Responsible DueDate Status Comments Documents
 Self sustainability for the GF would require: - a new legal structure, - operational profitability, - accumulation of sufficient own capital.
[Added: 2009/10/19]
Serbia 2009/10 Completed

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