In 2003, Regional Agency and local self-governments from Šumadija signed the Agreement with South-Moravian region of Czech Republic (SMR) which started the support programme of South Moravian region for the municipalities of Šumadija region, in other words SMR Development Fund was initiated. The role of Regional Agency in this programme was based on monitoring the implementation of the projects.

In the period from 2003 to 2004 this programme mostly served to finance investment/infrastructural projects, while in the second round in 2004 the emphasis was on non-investment projects as well as on a combination of investment and non-investment projects.

Starting from June 2005, Regional Agency was entrusted with the management of the SMR Development Fund which also entailed managing financial assets distributed through the fund.

South Moravian region performed evaluation of submitted project proposals, and they decided on the final choice and revision of projects in the process of implementation. Projects were developed in compliance with local strategies of sustainable development for Šumadija and Pomoravlje, as well as with other valid strategic documents.

Since 2007, Fund’s assets have become available to the Municipality of Plandište in Vojvodina that is performing its activities within SMR Development Fund in partnership with Regional Agency.