Small and medium-sized enterprises (SMEs) form the basis of the economic development of BiH, and to accelerate development and transition to green and circular business models, they need financial support, it was highlighted yesterday in Sarajevo at a meeting dedicated to the financing of green business models in SMEs.
In addition to the environmental and social effects that are the focus of green and circular business models, as stated by the participants, the companies realize significant savings as well as additional income by introducing these business models, which opens up additional business and economic potential.
The participants of the meeting proposed a kind of redesign of those programs, given that there are funds, as well as institutions that work very well, have developed policies and have a vision for a green transition. The focus of the discussion was how to improve the entire portfolio of mechanisms.
The key domestic institutions responsible for supporting the development of SMEs in BiH are the two entity ministries, the FBiH Ministry of Development, Entrepreneurship and Crafts, and the Ministry of Economy and Entrepreneurship of the Republika Srpska, and in the field of energy efficiency and renewable energy there are entity funds, the FBiH Environmental Protection Fund and the RS Environmental Protection and Energy Efficiency Fund. Apart from them, the Development Bank of the Federation of BiH is also active in this area with its credit lines.
Manager of the Green Recovery component, Adrijana Marić, stated that today’s round table is a continuation of the activities implemented in BiH by GIZ on behalf of the German Ministry for Economic Development and Cooperation. It gathered representatives of the competent ministries for the economy, environmental protection funds, chambers of commerce, international financial institutions that have funds in their portfolios to support the green transition, as well as business entities.
“Our goal is to support private and public actors on the way to the green transition of SMEs. The green transition is inevitable under global trends regarding decarbonization, as well as in accordance with the ambitious European green plan. Our companies, especially export-oriented in the metal and wood sectors, which are in our focus, are faced with demands on the export markets to adapt their production to those demands,” pointed out Martić, Fena reports.
