This is what Miodrag Kostic left to the country after his death: He renewed an old Serbian tradition

Photo: Nebojsa Babic

In addition to being one of the most successful businessmen in Serbia, Miodrag Kostic, who just passed away, also became known for his charity work, as he followed in the footsteps of rich Serbs from the past who left behind endowments to benefit the state and people. Kostic is one of the few businessmen in modern times who gave back to the people during his lifetime, and what will remain behind him.

He founded the Miodrag Kostic Endowment wishing to establish "the Palace of Science" - the first center for research and popularization of science in Serbia. This venture reflects his life and business philosophy, centered on knowledge as the greatest value. The allocation of 25 million euros for the realization of this project is among the largest single philanthropic donations in this region.

This is the second endowment he had launched. Previously, in 2013, he handed over his family home in Novi Sad, as the "Kostic Family Endowment," to the Institute for Health Care of Children and Youth of Vojvodina, to be used to provide more humane treatment, in cooperation with the NURDOR association. It is also important to mention the house he built in Kraljevo in 2012 for the SOS Children's Village organization.

Kostic launched the regional CSR program "Family Support" as well as numerous aid projects that are implemented every year for more than a decade, among which are various forms of support for SOS Children's Villages and the NURDOR association, organizing holidays for schoolchildren from Kosovo and Metohija, food donations to vulnerable populations and donation of equipment to health and educational institutions. The humanitarian actions he financed were primarily focused on the local communities where MK Group and AIK Banka operate.

He was the only person in Serbia who was awarded the Badge of Honor by the international organization SOS Children's Villages as a sign of gratitude for his long-term support and contribution. He was the holder of the Golden Badge of the Red Cross of Serbia, the prestigious title "Friend of the Family" awarded by the Chamber of Commerce of Serbia, as well as numerous awards for donating food to vulnerable populations. The VIRTUS award for philanthropy for contribution at the national level was given to MK Group in 2020 and came after Miodrag Kostic became one of the first to respond to the call of the state and provide various forms of assistance during the coronavirus pandemic, both in Serbia and in the region.

He received the special VIRTUS award for contribution to endowments in 2024, as well as a special recognition from the Serbian Association of Managers (SAM) for an exceptional personal act in establishing the endowment that bears his name, as well as  "the Palace of Science".

(Telegraf Biznis)