Recommendations for the Private Sector for a Green Economy in BiH

10.06.2024

2024. This document has been prepared as part of the Green Recovery component of the Covid-19 Investment Response project, funded by the Federal Ministry for Economic Cooperation and Development of the Federal Republic of Germany (BMZ) and implemented by Deutsche Gesellschaft für Internationale Zusammenarbeit GmbH (GIZ).

Through this project, pilot companies have been empowered to apply green technologies, and the Foreign Trade Chamber of Bosnia and Herzegovina, as the project’s implementation partner, has developed a new portfolio for the green transition. The document emphasizes the importance of using learned lessons for further work on technological and ecological innovations in SMEs.

Key recommendations include:

Support for SMEs (systematic support to facilitate the transition to green business models); Financing (long-term support programs for continuous access to funding sources);
Education and labor market ( aligning higher education and job classification with market needs);
Digitalization and innovation (crucial for greening business models);
Green certification (implementation of international standards to increase the competitiveness of SMEs).

Recommended actions: aligning regulations with the EU framework; updating SME development strategies with a focus on the green economy; analyzing industry needs for the green transition and developing systemic solutions; long-term financial support programs for green business models; aligning education with market needs; supporting the digital transformation of SMEs; Promoting green standards among SMEs; strengthening capacities for the green transition.

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