The call for applications for funds from the first Incentive Fund for Economic Empowerment of Persons with Disabilities in Serbia, worth over 2 million dinars, opened today in Kragujevac. The fund will provide financial and mentoring support to persons with disabilities from Kragujevac and its surroundings who already have or wish to start their own business, as well as to employers who hire persons with disabilities and wish to improve their business operations.
The first incentive fund in Serbia aimed at persons with disabilities aged 18 to 65, as well as business entities and associations, has been established in May this year through a collaboration between the City of Kragujevac, the Ana and Vlade Divac Foundation, and the Regional Agency for Economic Development of Šumadija and Pomoravlje, with the support of the United States Agency for International Development (USAID).
Today, in Kragujevac, they presented the call for applications. Beneficiaries can apply for incentive funds consisting of 70% interest-free repayable funds and 30% subsidies. The goal of the call is to support the establishment or improvement of businesses owned by persons with disabilities or their employment in the private sector.
The fund was established with a contribution of $12,500 from the Ana and Vlade Divac Foundation, supported by USAID, while the City of Kragujevac provided $7,500.
"The city of Kragujevac is the first city in Serbia to initiate the establishment of a Fund primarily intended for the economic empowerment of persons with disabilities. The city of Kragujevac is constantly involved in several measures that provide support to people with disabilities, and thanks to the incentive policy and the engagement of people with disabilities through public work measures, today we have close to 700 people with disabilities less on the labour market, and thus our city is an example of good practices not only in Serbia but also in the region" stated Dejan Ružić, Deputy Mayor of Kragujevac.
Gordana Marković, Secretary of the Secretariat for Local Economic Development, Economy, Agriculture, and Environmental Protection of the City of Kragujevac, highlighted that the maximum individual amount for which persons with disabilities can apply is 215,000 dinars, while for employers, this amount is 535,000 dinars. "Of the total funds, 30% are subsidies, while 70% are interest-free repayable incentive funds that are repaid over a period of 3 years," Marković said.
"These funds are designed to be repaid over a 3-year period, making the Fund self-sustainable. The repaid funds will be available to other beneficiaries in the future who will have the opportunity to improve their businesses. The Ana and Vlade Divac Foundation, with USAID's support, has been establishing such funds for various target groups for years, and this mechanism has proven to be very successful and necessary," said Željko Mitkovski, Project Manager at the Ana and Vlade Divac Foundation.
"Companies and associations will improve their operations through the employment of persons with disabilities. In order for companies to qualify for these funds, it is necessary that they have been registered in the territory of the City of Kragujevac since 2022 or earlier and that they had positive business operations in the previous two years. Also, companies should have at least three employees by December 31, 2023, while associations should have at least one employee on the same day" said Milica Čukarić, Project Manager at the Regional Agency for Economic Development of Šumadija and Pomoravlje.
In addition to financial support, persons with disabilities and employers will also receive mentoring support, as well as training for starting and improving business operations.
"Together with our partners, we are working on creating a more inclusive labor market in Serbia. We expect that the fund will encourage the creation of new jobs and improve conditions for the employment of persons with disabilities, and that it will become a best practice model for other cities to follow." said Slađana Lević, Project Director at the Youth with Disabilities Forum.
The Incentive Fund was established with the support of USAID as part of the project "Job Fit: Economic Empowerment of Persons with Disabilities," aimed at creating equal access to employment for persons with disabilities and encouraging a more open and inclusive labor market in Serbia. The project is implemented by the Youth with Disabilities Forum in partnership with the Ana and Vlade Divac Foundation, Caritas Serbia, Smart Kolektiv, and the Center for Independent Living Serbia.
The call for applications is open until September 30, 2024. More information on application criteria can be found at www.divac.com/FondPoMeri.