Program for debts issue solving in Serbian economy started

The minister of trade, Zeljko Sertic and the minister of justice, Nikola Selakovic, signed with representatives of the International Financial Corporation and Serbian Chamber of Commerce Memorandum which initiated the Program for solving debts issue whose objective is to decrease insolvency and support loans for economy as well as capacity strengthening of trustees in bankruptcy.

According to IFC, by the end of 2014, the share of non-payable loans in portfolio of Serbian banks reached 23% which is a growth compared to 2010 when it was 16,7%.

The program whose objective is to decrease insolvency of economy and support loans in Serbia also supports development and promotion of legislation framework in the field of bankruptcy and mutually agreed financial restructuring. The project also develops the works of the Agency for licensing trustees in bankruptcy and strengthens capacities of trustees in bankruptcy and other participants in the process.