06.03.2024
Emerging stronger from the pandemic – sustainable economic development in Bosnia and Herzegovina
The COVID pandemic presented huge challenges for business all over the world. GIZ is supporting Bosnia and Herzegovina with efforts to mitigate the economic impacts.
The COVID pandemic has left its mark on every sector of the economy – from tourism to the metal industry. The Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH is supporting businesses in Bosnia and Herzegovina to continue business activities despite those impacts. With assistance from the International Labour Organization (ILO) and the United Nations Development Programme (UNDP), business owners are taking part in workshops to develop sustainable business models.
Glovis, a family business that makes play areas and street furniture, is grateful for that support in such challenging times. Project manager Naida Baručija explains: ‘Thanks to the project we now have the technical and financial assistance we need to buy new machines.’ Glovis has also been able to improve its business processes and image. Despite the economic challenges it faces, the company has increased its workforce by 80 per cent and doubled its international customer base.
Altogether, the GIZ project has managed to secure 8,700 jobs and even create 550 new ones. 343 small and medium-sized businesses have received support, and 160 start-ups have been formed. The project was funded by the European Union (EU) and the German Federal Ministry for Economic Cooperation and Development (BMZ).
Green initiatives and more sustainable business models
Thanks to the technical and financial support they have received, the businesses involved in the project have been able to adopt more sustainable and greener business models. That includes generating electricity from solar panels, using electric rather than diesel forklifts and producing less transport waste.
The tourism sector has also been successful at driving innovation and establishing sustainable business models. Five tourist destinations – Konjic, Trebinje Skakavac Nature Monument, Tišina-Šamac nature reserve and Bosanska Krupa – have received industry sustainability awards. Bosnia and Herzegovina wants to maintain and increase its support for sustainable, eco-friendly tourism.