Business incubator in Majdanpek - project by local self-government and World Bank

Opening of a business incubator in Majdanpek has been the main theme of the talks between the representatives of the World Bank and the officials of the local self-government. Future business incubator will be situated in former unit "Elektronika", and the local self-government is obliged to provide an adequate space. It is believed that small and mid-sized enterprises will have much benefit from the business incubator whose role is to resolve the problem of local economic development through improvement of entrepreneurial database.

The basic aim of this project is creation of conditions for development of entrepreneurship, reduction of unemployment rate, and founding as many new enterprises as possible. Having in mind the fact that the space for the work of the business incubator in Majdanpek already exists, all other conditions should be met prior to November when the realization of the project should commence.

According to the plan, this project should last for three years if everything goes as planned. In case the citizens of Majdanpek show appropriate interest in founding small and mid-sized enterprises, the project may be prolonged for two more years.

By the way, the World Bank has approved a loan to the Government, under very good terms, for the project for resolving inherited environmental and social problems in Bor and Majdanpek. This project for regional development of Bor was approved by the World Bank in May 2007, while the funds became available after the contract was ratified in the Parliament of Serbia in December 2008.

Major share of the funds is intended for reconstruction of several ecological black spots in municipality of Bor, stimulation of development, and opening of new small and mid-sized enterprises, as well as for self-employment through micro loans and expansion of capacities of Bor's business incubator and opening of a business incubator in Majdanpek.