The main objective of this study is to emphasize the importance of creating special governmental refinancing institutions targeted towards strategic economic sectors. Such institution in Macedonia is Agricultural Credit Discount Fund, a separate unit within the Macedonian Bank for Development...

Agriculture is a fundamental economic activity in Macedonia which constitutes 10% of GDP over the past decade, adding related processing industry increases this share to approximately 15%-16%. During the last period of economic restructuring, agriculture played a critical role in the social and...

Accounting over 10% of country's GDP, agriculture has substantial role in Macedonian economy. As a viable, yet risky economic sector, it is of great significance for this paper to show to the policymakers that creating special financial (sometimes state owned) institutions for lending in...