Direct foreign investments are crucial for Bosnia and other countries in the Western Balkan region but also for entire Europe, said a European investment bank’s president, speaking ahead of an annual meeting that will gather leading experts and decision-makers in Bosnian capital next month.

Speaking for Fena news agency, Suma Chakrabarti, the European Bank for Reconstruction and Development (EBRD) President, said the meeting was a chance for Sarajevo and Bosnia to be presented as favourable places for business.

According to him, the country has great potential to achieve that goal.

“Direct investments are crucial not only for Bosnia and Herzegovina and not only for the Western Balkan countries but for entire Europe. Such investments are very important not only as a source of long-term financing, which comes with commitment and perspective but also for transfer of skills and knowledge,” said the bank’s senior official.

The meeting is a unique chance for investors because they will get to learn more about Sarajevo and Bosnia, otherwise many of them would probably never come to the country.

The EBRD’s 2019 Annual Meeting and Business Forum will focus on the ways to connect economies for strong growth and impact, both in the Western Balkans and beyond. This year’s theme is Connecting Economies for Stronger Growth, the Bank said on its official website.

This region, Chakrabarti said, is the bank’s crucial region.

“Only last year we invested over €1.1 billion through 67 projects in six countries, which is a record result, and this year we tend to reach the same level of investment,” he said.

“The region’s potential is important and we want to discover it.”

The EBRD’s total investment in Bosnia amounts to €2.3 billion and they were carried out through 160 projects since 1995.

“This year we expect further investments of up to €300 million, which should partly be made possible owing to the annual meeting, and on the other hand there is a significant demand for our financing,” said Chakrabarti.

The bank’s cooperation with Bosnian authorities at all levels is, according to him, very good and fruitful.

“Our work is based on a state strategy which is developed in agreement with representatives of authorities and relevant decision-makers,” he said.