Diaspora to initiate important economic Reforms in BiH?

August 19, 2017 12:15 PM

The Diaspora of Bosnia and Herzegovina, which annually sends 1.75 billion EUR to BiH, which makes 13.5 % of GDP of BiH, is well integrated into its residence countries and has great potential and desire to contribute to the development of BiH.

On this occasion, the USAID organized a working lunch with representatives of the media in Sarajevo, with the aim to present the project “Strengthening of the role of the Diaspora in the economic development of BiH”. Also, they thought about the role of media that is very important for creating a positive atmosphere for attracting and motivating BH Diaspora to invest in their homeland.

This program of support for potential investors from the Diaspora, which was started in April 2017 and will last until 2022, is implemented by USAID. The main goal of this project, with a total budget of 5.2 million USD, is promotion, stimulation, and support to investment from Diaspora to BiH.

“The other side is also very important, and that is that the Diaspora can initiate some very important economic reforms,” said the Head of the USAID Mission to BiH, Peter Duffy.

According to him, they are expecting from this project to bring more investments in BiH, but also to encourage the Diaspora to be more active in advocating for more reforms.

Head of the project “Strengthening of the role of the Diaspora in the economic development of BiH” Sanjin Arifagic noted that they are planning to support 140 companies through this project, which will result in investments of around 22 million USD and creating 250 new workplaces at least. This support will include providing funds in the form of non-refundable grants as well as technical and advisory support.

The average grant will amount between 30 and 35 thousand EUR, and companies that can apply cannot be older than 5 years, must be registered in BiH as well as linked to the Diaspora in some way.

(Source: akta.ba)

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