Macedonian Bank for Development Promotion – State Property Development Bank, established in order to support the development of small and medium enterprises and provide financial support to exports. It was founded in 1998. As a joint stock company, on the basis of a separate law, and its founding capital amounted to 15 million euros. The Bank’s operations is based on several principles: respect for market principles, independence in decision-making, complementarity rather than competition of commercial banks and non-financial bodies and state-owned enterprises. The Bank performs the following activities: financing the development of small and medium enterprises (through credit lines, mostly from foreign sources), financing of exports, issuing guarantees for export deals and insurance and reinsurance of exports. The bank does not receive deposits from the population and legal entities, does not perform payment operations and does not trade with securities. Is, the Bank does not charge enterprises directly, but it performs its activities through selected commercial banks, the so-called. “Participating banks”. The Bank works according to the same legal regulations applicable to commercial banks and subject to supervision by the NBRM. Lit.: Lyupco Trpeski, Money and Banking, Economic Press, Skopje, 2003, 551-554. D. P.
Original article in Macedonian language Cyrillic alphabet
Кириличен напис МАКЕДОНСКА БАНКА ЗА ПОДДРШКА НА РАЗВОЈОТ