altDozens of Macedonian companies are winning the financing needed to expand and upgrade operations, thanks to an innovative program that is also fortifying the country's fledgling financial consulting sector. The Financial Platform--a creation of USAID's Macedonian Competitiveness Project, managed by CARANA--assists companies in such sectors as light manufacturing and food processing with financial forecasting, investment decisions, cost accounting and other corporate finance issues. Many Macedonian companies lack in-house expertise in these areas, dimming their chances of getting financing.

The Financial Platform connects companies with trained Macedonian advisors on a cost-share basis, meaning the companies pay up to 60 percent of their fees. As companies realize the value of engaging professional outside services, they create a market for fee-based consulting services. And they boost their own credibility with banks and other lending institutions: 11 companies so far have obtained nearly $3 million in financing, allowing them to make $5.5 million in investments for new plants and factory improvements. Another 26 companies are working through the platform to reap a projected $12.5 million and $15 million in financing and investments, respectively. Such investments would create over 600 new jobs.

Read more about the Financial Platform in MCP's newsletter, Macedonia Competes.

Published June 2009

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