10 YEARS MEDF

The Macedonian Enterprise Development Foundation (MEDF) celebrates this year 10 years of its existence. This first significant anniversary is marked with the impressive data on MEDF’s achievements in both financial and non-financial services, 25.11.2008.

MEDF, since its foundation, disbursed loans in total amount of 1.441.533.682 MKD (23.07 million EUR) to 5.509 individual farmers, micro and small enterprises. The disbursement was realized through accredited financial intermediaries: NLB Tutunska Bank (1998-2008), saving’s house Moznosti (1998-2008), Radobank (1998-2003) and IK Bank (2003-2008), which contributed additional 5.65 million EUR to the total amount of loans withdrawn by MEDF. These loans have supported 9.506 standing employments and 1.960 new employments, as a result of the new investments made.
Besides the financial, MEDF supported non-financial services as well. In its 10 years of work, 86 projects were realized, in framework of various programmes and activities: through capacity building of the accredited financial intermediaries, to the entrepreneurs themselves. Moreover, these projects referred to advocacy and lobbying and information and exchange. Within these projects more than 13.873 beneficiaries were included. By applying this approach, MEDF observes one of the 10th principles of market development – clearly distinguishing the roles of provider and facilitator.
For the purpose of realization of its vision – poverty and unemployment decrease and establishment of social cohesion, MEDF will provide further support of the small enterprise development, which represents its mission. Small enterprises have influence on the economy and society, since they bridge the huge gaps in welfare and provide the required flexibility through their speed and innovativeness. MEDF’s focus of small enterprise development was based on two pillars: access to finance and entrepreneurship promotion.
The impact of MEDF’ activities have been confirmed with the MEDF’s assessment and global experience.