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...

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...