EBRD and EU support green and sustainable transition in Bosnia and Herzegovina

November 1, 2024 by The Sting's Team Leave a Comment

This article is brought to you in association with EBRD.

By Jelena Pajic

SME Go Green programme to help businesses adopt green technologies and sustainable practices
Emphasis on resilience in agricultural sector and access to finance for women-led SMEs
Tailor-made technical assistance and EU grants for more affordable investments

The European Bank for Reconstruction and Development (EBRD) and the European Union (EU) have launched a new regional programme, SME Go Green, to support small and medium-sized enterprises (SMEs) in the Western Balkans.

In its initial phase, the programme will provide €120 million of targeted SME financing in the Western Balkans region, scaling up to €400 million over the next few years. The programme’s official launch in Bosnia and Herzegovina took place at Europe House in Sarajevo on 29th of October.

SME Go Green, which aligns with the Paris Agreement, is dedicated to fostering sustainable development among SMEs by providing targeted financing, investment incentives and technical assistance. The primary goal is to enhance SMEs’ access to finance, thereby enabling greater investment in the green economy.

“The SME Go Green programme aims to facilitate the adoption of sustainable practices by local SMEs while equipping them with the necessary tools to excel in their particular areas,” explained Aleksandra Vukosavljevic, EBRD Director for Financial Institutions, Western Balkans and Eastern Europe. “Our objective is to assist SMEs in aligning their products and services with the highest EU climate and environmental standards, thereby enhancing their competitiveness on a global scale.”

As the main donor, the EU will support green investments within the programme with €25 million in grants through the Western Balkans Investment Framework (WBIF) to scale up green economy investments, with more funding expected in the following phases of the programme.

“The SME Go Green Programme aims to help SMEs in the Western Balkans leverage green and digital transformation for enhanced economic integration with the EU. Coupled with the reforms in business environment, credit lines supported by the EU and EBRD should unlock the potential for sustainable SME finance in Bosnia and Herzegovina”, said Antonella di Sandri, Head of Operations Section for Economic Development, Natural Resources and Infrastructures, EU Delegation to BiH.

The programme places significant emphasis on agribusiness value chains, environmental sustainability and climate resilience within the agriculture sector. Another crucial aspect involves promoting gender equality, ensuring equitable access to climate and financial resources for women-led SMEs. The aim is for 100 per cent of the proceeds of the programme to be used to finance green technologies, with one-third supporting investments that enhance the greening of agriculture and agribusiness value chains, while one-quarter is designated for women-led SMEs.

By investing in sustainability practices and adhering to international quality standards, the programme aims to increase SME competitiveness and trade potential. In addition, the initiative seeks to strengthen the financial sector by promoting climate resilience and inclusiveness in the Western Balkan economies.

The EBRD will implement the programme in collaboration with local financial institutions.

To date, the EBRD has invested more than €3.2 billion through 239 projects in Bosnia and Herzegovina.

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