Monetization
UMCOR has been an implementing partner of USDA monetization programs since
1997 and has used the proceeds to provide farm technical assistance, to fund
agricultural and non-agricultural loan programs, to facilitate social development and youth
projects and to rehabilitate rural infrastructure.UMCOR implemented
programs to the value of US$ 1,898,159.00 in 2003 with monetization proceeds
from previous years. Examples of activities include the distribution of economic
development grants and subsidized loans totalling more than 1.2 million KM
(Konvertibilna Marka; there are approximately 2 KM to 1 Euro) while 132,686.00
KM was used to provide building materials for the self-help reconstruction of
barns.
Projects that are funded with monetization proceeds have had, and continue to
have, a positive impact on the revitalization of the agricultural sector in BiH.
Through the provision of much needed inputs, such as micro-credit loans,
technical assistance, livestock distribution and rehabilitation of rural
infrastructure, farmers and other members of rural communities have the
necessary tools to begin rebuilding their lives.
Updated May 2004
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