On June 12, 2009 the USAID Competitiveness Project organized the Conference on “Access to Finance in times of recession”. Leading Macedonian banks and financial institutions, (including Invest Bank, Agriculture Fund, and Crimson Capital) presented their financial products and services in corporate financing to companies attending the Conference. “The best strategy to put Macedonia on the right path through times of global recession is to find the tools which enhance your competitiveness in a tough global economy.

Macedonian companies need to invest in new technologies and improved business practices in order to stimulate companies’ growth and ability to compete in the global market place. Having access to a wide range of financial products may make the difference between survival and failure for a company”. – said Tim Hammann, USAID Economic Growth Office Director.

“With the assistance of USAID Competitiveness Project financial consultant we developed a comprehensive business and investment plan that enabled us to access a significant bank loan. This fresh capital will make possible for us to expand our activities and grow. Even in times of crisis, the Bank was willing to issue us a loan, once we presented them with comprehensive bankable investment project.” - said Blagojce Trpcevski, Director and owner of Bams Treid from Bitola.

This Conference is a part of the USAID Competitiveness Project’s Financial Platform which helps companies successfully meet capital needs for business growth, and develop investment strategies to access a wide range of financial products and services, including commercial loans and equity finance, at a time of low liquidity and difficulty in accessing credit.

Since the launch of the Financial Platform in September 2008, to date USAID Competiveness Project has assisted 11 Macedonian companies to access bank loans and leasing services in value of $2. 75 million, leveraging a total new investment value of $4.65 million. These investments were made possible by the USAID Competiveness Project pool of financial facilitators. They assist companies in developing their investment strategies and building sound business plans to access locally available financial products and expand their business operations.