Bandar Hajjar, CEO of the Islamic Development Bank (IDB), said that the money is not the issue, the money exists, but the problem is how to reduce risks for entrepreneurs and how to create an environment suitable for investments.

Addressing the Sarajevo Business Forum participants, Hajjar stated two major challenges to Bosnia’s economy. The first is the alarming state debt level and the second is the budget deficit. He said that the money is not the issue because the money exists. The problem is in the reduction of risks for entrepreneurs and how to create a suitable investment environment.

“If we were to use just one percent of the USD 200 billion, we would help the developing countries,” Hajjar added.

He said he was pleased with the partnership between the IDB and Bosnia and Herzegovina.

“This partnership didn't occur at this meeting, but much earlier. I am glad that Bosnia falls into the category of countries of higher middle income. Bosnia has achieved a lot since the 90’s and headed began the process of economic reforms. We have seen the fruits of those reforms,” he said.

He stressed the importance of partnership between the authorities and the entrepreneurs, as well as civil society, including the philanthropists, foundations and academies.

The ninth Sarajevo International Business Forum (SBF), which hosts a large number of officials and business people from the region and the world, commenced today in Sarajevo, giving them an opportunity to get acquainted with the business and investment opportunities in Bosnia and Herzegovina and the countries of the region.

The focus of this year’s Forum is the joint solution to the use of potentials in the field of energy, education, IT, agriculture and tourism. The aim of the Forum is to link and present all the natural and human resources of the region and to open the foreign markets to Bosnian and regional companies.

The motto of this year’s forum is “One Region, One Economy.”