AOFI – TWO DECADES WITH YOU
(2005–2025)
At the very beginning of the new millennium, the Republic of Serbia recognized the necessity of a strategic approach in supporting domestic exports. It was clear that without adequate government support for exporters, in a world of global competition, Serbia could not achieve the desired economic growth and international market position.
It was precisely from this need that, on July 15th, 2005, through the adoption of the Law on the Export Credit and Insurance Agency of the Republic of Serbia (“Official Gazette of the RS”, no. 61/05 and 88/10), AOFI – the Export Credit and Insurance Agency of the Republic of Serbia – was established, the first and only domestic export-credit agency (ECA). With the aim of providing more efficient and comprehensive financial support to small and medium-sized exporters, in 2009 the Government of the Republic of Serbia made the decision to merge SMECA (Serbian and Montenegro Export Credit Agency) into AOFI. This institutional consolidation made it possible to integrate knowledge, resources, and support instruments, thereby expanding AOFI’s mandate and transforming it into a more comprehensive development agency focused on the competitiveness of the Serbian economy in the international market.
AOFI began its work on October 1st, 2005, with only six employees—modest in number, but ambitious in vision and determination. Before them lay an extremely demanding task: to establish a new system of financial support for exports in a country that was just emerging from a long period of transition, without a tradition in receivables insurance or factoring. Despite this, through dedicated work, professional staff, and strong state support, AOFI succeeded in a short time in becoming an important pillar for the domestic economy.
Today, after two decades of operations, AOFI stands as an institution of strategic significance for the Republic of Serbia. With a recognizable name and international reputation, with rich experience, a professional team, and a network of partners, AOFI remains committed to its mission: to be a stable, modern, and efficient partner to Serbian exporters.
Export is the engine of development. AOFI is the support for exporters.
GOOD LUCK!
