Western Balkan economic growth in focus as EFSE marks 20th anniversary in Mostar

Opening the event, Head of the EU Delegation to Bosnia and Herzegovina and EU Special Representative, Ambassador Luigi Soreca, emphasized the strategic importance of small businesses and agricultural producers. Soreca noted that the EU has supported EFSE from its inception, contributing approximately €250 million in funding, including investments across Bosnia and Herzegovina.

"Politically speaking, every economy that is progressing, growing and making strides is an economy that is moving closer to the European Union market,” Soreca stated, whilst urging local leaders to capitalize on the Growth Plan for the Western Balkans. Warning against political paralysis, he added: “Time is running out, and the risks of losing the funds provided through the Growth Plan have unfortunately become a daily reality.”

Despite these concerns, Soreca highlighted positive milestones, praising the Central Bank of Bosnia and Herzegovina (CBBH) for submitting its application to join the Single Euro Payments Area (SEPA), calling it a crucial step toward European integration.

Over its 20-year history, EFSE has deployed more than €2 billion across the Western Balkans, according to Mejra Juzbasic Bajgoric, Regional Director of Finance in Motion. She revealed that 20 percent of those total investments were allocated directly to Bosnia, with plans to sustain long-term economic support.

Echoing this sentiment, Jasminka Begert, EFSE portfolio manager at Finance in Motion, stressed that current initiatives focus on helping businesses and farmers build resilience, innovate, and access new markets amidst ongoing external economic shocks.

CBBH Governor Jasmina Selimovic commended the decade-long partnership between the Central Bank and EFSE, emphasizing that joint efforts to enhance financial literacy and trust directly reinforce national financial stability.

The conference agenda centers on addressing market instability, mobilizing large-scale capital for MSMEs, financing sustainable agriculture, and advancing women's participation in entrepreneurship and finance across Southeast Europe and the wider EU neighborhood.