9. February 2024.9. February 2024.
U.S. Government and ProCredit Bank Join Forces to Enhance Access to Growth Finance for Diaspora-linked Businesses in Bosnia and Herzegovina

Sarajevo, February 2024 – In an effort to stimulate economic growth and improve access to finance for diaspora-linked businesses in Bosnia and Herzegovina, the U.S. government, through the United States Agency for International Development (USAID), and ProCredit Bank in BiH signed a Memorandum of Understanding today in Sarajevo.

Courtney Chubb, the Director of the USAID Mission in Bosnia and Herzegovina, emphasized the key goals of this collaboration, stating, “This partnership will support the growth of micro, small, and medium-sized enterprises (MSMEs)  and startups that have a connection to the BiH diaspora. We intend to invest in joint initiatives to introduce innovative financial instruments that increase access to finance for diaspora investors, and conduct a comprehensive analysis of financing needs and credit availability, with a particular focus on supporting diaspora-owned businesses.”

This cooperation will promote a more efficient flow of private capital to BiH MSMEs and startups, and includes a U.S. government-backed new loan portfolio guarantee valued at $15 million and set up to enable financing of diaspora-linked firms in BiH.

USAID, in collaboration with ProCredit Bank, will also implement strategic promotional activities targeting BiH diaspora-related MSMEs and startups through online channels, social media, and web-based tools. Additionally, teams will organize comprehensive training programs to equip company personnel with the skills needed to assess their own financial needs, understand credit availability, enhance financial literacy, efficiently manage finances, and develop sustainable business plans.

Amir Salkanović, President of the Management Board of ProCredit Bank, emphasized that this is one of the strategically important initiatives for ProCredit Bank. “ProCredit Bank in Bosnia and Herzegovina fully supports this initiative, and we will work together with USAID to make a meaningful contribution to the development of financial products better tailored to the needs of small and rapidly growing businesses. Furthermore, we will continue to strengthen the mechanism for exchanging information with USAID to better link the bank’s financial offerings with the support programs provided by USAID through its Diaspora Invest Project.” noted Salkanović.

U.S. Government and ProCredit Bank Join Forces to Enhance Access to Growth Finance for Diaspora-linked Businesses in Bosnia and Herzegovina

Sarajevo, February 2024 – In an effort to stimulate economic growth and improve access to finance for diaspora-linked businesses in Bosnia and Herzegovina, the U.S. government, through the United States Agency for International Development (USAID), and ProCredit Bank in BiH signed a Memorandum of Understanding today in Sarajevo.

Courtney Chubb, the Director of the USAID Mission in Bosnia and Herzegovina, emphasized the key goals of this collaboration, stating, “This partnership will support the growth of micro, small, and medium-sized enterprises (MSMEs)  and startups that have a connection to the BiH diaspora. We intend to invest in joint initiatives to introduce innovative financial instruments that increase access to finance for diaspora investors, and conduct a comprehensive analysis of financing needs and credit availability, with a particular focus on supporting diaspora-owned businesses.”

This cooperation will promote a more efficient flow of private capital to BiH MSMEs and startups, and includes a U.S. government-backed new loan portfolio guarantee valued at $15 million and set up to enable financing of diaspora-linked firms in BiH.

USAID, in collaboration with ProCredit Bank, will also implement strategic promotional activities targeting BiH diaspora-related MSMEs and startups through online channels, social media, and web-based tools. Additionally, teams will organize comprehensive training programs to equip company personnel with the skills needed to assess their own financial needs, understand credit availability, enhance financial literacy, efficiently manage finances, and develop sustainable business plans.

Amir Salkanović, President of the Management Board of ProCredit Bank, emphasized that this is one of the strategically important initiatives for ProCredit Bank. “ProCredit Bank in Bosnia and Herzegovina fully supports this initiative, and we will work together with USAID to make a meaningful contribution to the development of financial products better tailored to the needs of small and rapidly growing businesses. Furthermore, we will continue to strengthen the mechanism for exchanging information with USAID to better link the bank’s financial offerings with the support programs provided by USAID through its Diaspora Invest Project.” noted Salkanović.