Start date: September 30, 2009            
End date:   September 30, 2019       
Guarantee Facility: $5 million in loans
Implementers:  Savings Houses Mozhnosti and FULM         


The Microfinance DCA loan portfolio guarantee supports microenterprises or individuals in sectors that need access to working capital and investment loans in order to start or expand their operations. It also supports individuals seeking loans for educational and workforce development opportunities. The guarantee enables the microfinance institutions to lend to borrowers who currently are not able to access credit. With the DCA, USAID mobilizes private financing for targeted borrowers that contribute to the Mission’s overall goal of sustained economic growth and employment generation.


Microfinance loans for start–ups, micro, small and medium enterprises that demonstrate the potential to contribute to the growth of the Macedonian economy.   

Expected Results/Impact

By the end of the 10-year life of the DCA, USAID expects over 2,300 borrowers to receive credit who otherwise would not qualify.  The total amount of loans revolved will be $5 million. To date, Moznosti managed to disburse $1.62 million in 268 loans, while FULM has disbursed $913,000 in 449 loans. Once repaid, this amount will be revolved one more time.


The partner financial institutions are USAID legacy institutions. With this partnership, USAID is further strengthening their position on the Macedonian financial market as microfinance institutions and helping them to continue their mission of providing financing for micro, small and medium enterprises.  These institutions have proven to be excellent generators of new employment, contributing to the USAID strategic focus on workforce development and job creation.

Contact Information

Contact at USAID: Margareta Lipkovska Atanasov, COR: mlipkovska@usaid.gov
CEOs of Partner Institutions:
Snezana Andova: sandova@moznosti.com.mk and
Eleonora Zgonjanin: ezgonjanin@fulm.com.mk