Vlada Republike Srbije Sekretarijat za Javne politike The World Bank

The World Bank and the Republic of Serbia have signed a loan agreement in the amount of EUR 89.5 million for the financing of the Serbia Competitiveness and Jobs Project that will be implemented from the end of March 2016 until June 30, 2019.

The aim of the Project is to improve the efficiency and coordination of selected public programs to alleviate constraints to competitiveness and job creation, including investment and export promotion, innovation, active labor market policies, and labor intermediation. It focuses on the activities identified as key drivers of competitiveness and job creation, among which innovative activities have a prominent place.

The Project activities are directed mainly towards the areas where the Government has been spending substantial resources and where there is potential for their better utilization. Project activities are implemented by the main Project beneficiaries – the Ministry of Economy, Ministry of Labor, Employment, Veteran and Social Affairs with the National Employment Service, Ministry of Education, Science and Technological Development, in coordination with the Innovation Fund and the Public Policy Secretariat.

Under the subcomponent Support to innovative economy, through the Ministry of Education, Science and Technological Development, the Republic of Serbia has allocated EUR 2.7 million in 2017 for continuation of the Mini Grants and Matching Grants Programs, which in the previous period have achieved significant results in promoting young innovative companies, development and commercialization of new and innovative technologies and in encouraging innovative entrepreneurship. In the previous cycle, these programs were funded from the IPA funds by the European Union in the amount of EUR 6 million.

In addition, through the subcomponent Promotion of technology transfer and commercialization, again through the Ministry of Education, Science and Technological Development, the Republic of Serbia has allocated EUR 0.9 million for the year 2017 for funding the operations and services of the Technology Transfer Facility (TTF), which has been established within the Fund.

For more information about the project please visit http://www.worldbank.org/projects/P152104?lang=en