July 7, 2003

U.S. TRADE AND DEVELOPMENT AGENCY

USTDA AWARDS GRANT FOR TELECOM ACCOUNTING AND COSTING TECHNICAL ASSISTANCE IN SERBIA

BELGRADE – Earlier today, the U.S. Trade and Development Agency (USTDA) awarded a $293,814 grant to Telekom Srbija to fund technical assistance on developing accounting and costing methodologies. The grant was conferred in a signing ceremony at Telekom Srbija’s offices in Belgrade. USTDA Chief of Staff, Carl Kress signed the grant agreement on behalf of the U.S. Government, and Mr. Drasko Petrovic, Director General of Telekom Srbija, signed on behalf of the grantee. Also present at the ceremony were Regional Director for Europe, Ned Cabot, and US Embassy Belgrade Commercial Attaché, Patrick Hughes.

As the Republic of Serbia moves to create the conditions for the liberalization of telecommunications services, Telekom Srbija will be required to move to cost-based tariffs, provide cost-based interconnection fees, separate accounting, and calculate the cost of providing universal service.

The technical assistance contractor will review Telekom Srbija’s reporting requirements, survey cost-based accounting principles and how they relate to Telekom Srbija, and recommend cost-accounting/cost-allocation methods that best meet the requirements.

The U.S. Trade and Development Agency advances economic development and U.S. commercial interests in developing and middle-income countries. The agency funds various forms of technical assistance, feasibility studies, training, orientation visits and business workshops that support the development of a modern infrastructure and a fair and open trading environment. USTDA’s strategic use of foreign assistance funds to support sound investment policy and decision-making in host countries creates an enabling environment for trade, investment and sustainable economic development. In carrying out its mission, USTDA gives emphasis to economic sectors that may benefit from U.S. exports of goods and services.


Visit USTDA’s Website at www.tda.gov