Financial support to the tourism sector

Bosna Bank International (BBI) and USAID’s Sustainable Tourism Development Project in Bosnia and Herzegovina (Turizam) continued the cooperation started at the 11th Sarajevo Business Forum (SBF), by signing the Joint Implementation Plan for Improving Access to Available Financial Resources for Small and Medium Enterprises (SMEs). ) from the tourism sector.

“With our partners, USAID Tourism, at the 11th SBF held in May this year, we organized the panel “The Power of Tourism in Stimulating Economic Growth”. Within this panel, which was attended by key decision-makers from the public sector, as well as respected global and domestic experts in the field of the tourism industry, the importance of tourism as a strategic economic branch for the initiation of the economic and social development of Bosnia and Herzegovina was highlighted, and the need was expressed to help this sector financially, but also with expert analyzes in the preparation of business plans. At a time when BiH is experiencing an increase in the number of visits and an increased need for accommodation facilities, it is an ideal time for BiH to adopt the best international practices in this area, in order to initiate investments in tourism and the development of this industry. Our common goal is to support the positioning of Bosnia and Herzegovina as a globally competitive tourist destination,” said Nedžad Gušić, a member of the BBI Bank Management Board.

The signed Plan will provide better access to finance for SME companies from the tourism sector. In addition, it will help small and medium-sized enterprises from the tourism sector to maintain their business activity, increase income, and hire and train employees, as well as create new jobs. This project also provides professional assistance for tourism workers in order to prepare business plans as well as possible and find sources of financing more easily.

The joint implementation plan was signed by Alek Bakalović, President of the Management Board of BBI Bank, Nedžad Gušić, Member of the Management Board of BBI Bank and Ibrahim Osta, Director of the USAID Sustainable Tourism Development Project in BiH (Tourism).