Grain in Eastern Europe: Serbia takes initial steps to establish a Grain Warehouse Receipts (GWR) system, October 2009Grain in Eastern Europe: Serbia takes initial steps to establish a Grain Warehouse Receipts (GWR) system, October 2009

16 October, 2009

In June 2009, the Warehouse Receipts Law of the Republic of Serbia was approved. To ensure the successful implementation of the system, the Government of Serbia has required a focused technical assistance programme to elaborate policy directions for the development of the system and train key stakeholders. As a first step the FAO Investment Center agreed with the Serbian Ministry of Agriculture to support and finance a study tour to Bulgaria for key Serbian stakeholders, Bulgaria being one of the countries in the region that has successfully implemented a GWR system.
The tour - involving Serbian warehouse inspectors and government representatives in Bulgaria - took place last 28 September - 2 October, 2009. Its purpose was to present to the participants the experience of the Bulgarian system with special focus on the activities of the National grain Service of Bulgaria which is the licensing and inspection body. The participants were introduced to all components of the system and the management process � licensing, inspection, indemnity fund, operational book keeping of the licensed warehouses. The highlights of the visit included the headquarters of the National Grain Service of Bulgaria and the licensed public warehouses in the cities of Vratza, Popovo and Varna. Bulgaria.
The following interviews were arranged by the FAO Investment Center:
1. Krasimir Kiriakov, President of VOCA Consult, Bulgaria, FAO consultant and expert on warehouse receipt systems - Duration: 2min31 sec, In mp3
2. Milan Djakov, the Director of the Indemnity Fund, Serbia - Duration: 2min36 sec, In mp3
Grain Warehouse Receipts allow local grain farmers and agribusiness enterpreneurs to access short-term credit from banks by depositing grain in certified warehouses and using it as collateral. With more short-term credit available, farmers do not need to sell their crop immediately after harvest - when prices are typically at their lowest to buy inputs for the next year.
FAO Investment Center has been involved in providing technical assistance in the area of GWR for more than a decade, under its cooperation with the European Bank for Reconstruction and Development. The EBRD has provided significant support to the establishment of WHR systems in transition countries by financing technical assistance and providing credit lines to local banks that use the systems. As well, USAID provided financial support to the government of Serbia to mobilize technical assistance and draft the legislation.
- FAO Media Relations: Liliane Kambirigi, Information Officer (+39) 06 570 53223 email: - Eric Deleu, Radio Studio, -

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EastAgri is supported by FAO, EBRD, and The World Bank