Catalyzing Long Term Finance through Capital Markets

The development objective of the Catalyzing Long Term Finance through Capital Markets Project for Serbia is to: (i) improve the enabling environment for capital markets development; and (ii) deepen the corporate bond market, including through green and other thematic issuances. The project comprises of two components. The first component, institutional, legal, and regulatory reforms will focus on supporting the government in strengthening the institutional, legal, and regulatory framework for capital markets development. It consists of following sub-components: (i) Ministry of Finance (MoF) - capital markets policy and regulatory unit; (ii) strengthening the Serbian securities commission (SSC) and the central securities depository (CSD); (iii) strengthening of Belgrade stock exchange (BELEX); (iv) taxation reform; (v) other technical assistance for implementing the capital markets development strategy. The second component, corporate bond issuer program (CBIP) will focus on expanding the corporate bond issuer base.