Invest in female entrepreneurs (Sugar on Top DRAFT)
Invest in female entrepreneurs
The European Fund for Southeast Europe (EFSE) facilitated loans to support women-led MSMEs in Bosnia and Herzegovina through its investees.
Impact Spotlight
Filip Ilić owns a large vegetable farm in Petrovo Selo, within the Municipality of Gradiška, a region known for its fertile soils. Selling his produce to local markets, he cultivates vegetables in open fields and approximately 80 greenhouses.
The effects of climate change have affected the farm in recent years, including rising temperatures, and more irregular and intensified rainfall. This has stunted crop growth, decreased yields and damaged aging farming infrastructure.
With his loan from Mikrofin, made possible by EFSE’s investment, Filip upgraded his greenhouses, replacing old, single-layer plastic covers with high-quality foil to improve insulation and structural durability. This enhanced resilience against adverse weather conditions, increasing production and extending crop cycles for greater profits.
He also implemented new, smart technologies to monitor and control key environmental factors - like temperature and humidity - in the greenhouses. This increased crop yields and reduced resource waste.
Ultimately, Filip wants to increase sustainable production and establish modern cold storage facilities to better store produce and improve sales further.
Thanks to EFSE and Mikrofin, I was able to deepen my knowledge of sustainable agricultural practices and climate change. I used the loan to purchase a multi-layered polycarbonate greenhouse cover, which offers better insulation and longer durability. This investment allows for more efficient crop protection and reduces the need for irrigation water. It’s not just about growing more—it's about growing smarter.
Filip Ilić, Petrovo Selo
Purpose of our investment
Agriculture accounts for approximately 8%* of Bosnia and Herzegovina’s GDP and around 18%* of its employment. The sector, however, is dominated by small farms that suffer from limited efficiency, lagging productivity and rural outmigration.
Farming in the region is also extremely vulnerable to climate change. Intensified droughts and floods are likely to significantly reduce crop yields and livestock productivity, making farms less profitable.
Our financing through Mikrofin is designed to give farmers better access to sustainable technologies and practices that will increase their resilience and help them adapt to these challenges.
*reference coming
Impact of our investment
Farmers can invest in new practices and technologies to protect soils, reduce water and improve efficiency. These investments will enhance their long-term productivity and help them adapt to the effects of climate change.
This partnership is part of EFSE’s broader sustainable agriculture strategy in the Western Balkans. We are supporting the region to take full advantage of its abundant natural resources and fertile soils.
Support beyond the investment
Our Advisory and Capacity Building team worked with 180 farmers through our new Academy for Sustainable Agriculture, which provides training on practical topics, including soil protection, irrigation and climate adaptation. This will ensure they can use the capital provided by Mikrofin to make their farms sustainable, resilient and productive.
The team also provided extensive, hands-on training to Mikrofin's staff, which they can pass onto the bank's end-investees. Subjects included how to reduce dependence on synthetic fertilizers and pesticides, and how to reduce waste and increase profits. We also worked with Mikrofin to improve agricultural loan products to help farmers make more effective sustainable investments.