By fostering diaspora engagement in local communities in Bosnia and Herzegovina (BiH), USAID helps stimulate local economic development and inspire social change across the country.

Relative to its home country population, the BiH diaspora – at 2 million strong – is one of the largest diasporas in the world. Highly skilled, entrepreneurial, and economically successful in their places of migration, members of the BiH diaspora retain strong familial connections to their places of origin, as evidenced by the $1.84 billion in remittances they sent home in 2021 alone. Yet one's emotional attachment to the ancestral home typically fades with time, meaning there is a limited window of opportunity for channeling new diaspora capital and expertise back into the country. By involving more of its talented and successful diaspora in sharing the knowledge, resources, and networks it gained abroad, BiH will fuel economic development and inspire positive social change in communities throughout the country.

USAID ASSISTANCE

Launched in October 2022, USAID’s five-year, $15.7 million Diaspora Invest project fosters local community engagement with the BiH diaspora and catalyzes diaspora investment and knowledge transfer to stimulate economic and social development in BiH.

PROJECT OBJECTIVES

The USAID Diaspora Invest project will provide financial and technical support to help BiH:

  • Strengthen local governments’ ability to engage diaspora in local economic development through high-level public-private dialogue.
  • Stimulate and facilitate the transfer of diaspora knowledge and investment capital to local companies.
  • Expand direct investment to high-potential diaspora and/or diaspora-related startups, joint ventures, and micro, small, and medium-sized enterprises (MSMEs).
  • Expand access to existing and new financial instruments to enable the flow of private capital to diaspora-related MSMEs.

EXPECTED RESULTS

  • $50 million in new diaspora and private investment in BiH.
  • Up to 2,000 new jobs in diaspora-related companies.
  • Six hundred diaspora-related startups, joint ventures, and MSMEs supported.
  • At least 30 local communities engaged in attracting diaspora knowledge and investment capital.
  • Increased market access, sales, and exports.
  • A more enabling business environment.
  • New and improved financial instruments that support economic development.

PROJECT DETAILS

 

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Bosnia and Herzegovina factsheet Economic Growth Diaspora