BAM 1.8 million secured for the improvement of tourist services with the support of the USAID Turizam project!
With the aim of creating improved access to financing in the tourism sector, USAID Turizam has assisted the Herbal Group conglomerate in obtaining a loan of 1.8 million BAM from Privredna Banka Sarajevo. In addition to these credit funds, Herbal Group Ltd. will further invest 7 million BAM. As a result of these efforts, a million dollars will be invested in opening well-known franchise establishments of Caribou and Mado cafes in Mostar and Sarajevo.
USAID Turizam has previously established cooperation with dozens of financial institutions, banks, and leasing companies in Bosnia and Herzegovina for the purpose of advocating for larger investments in the tourism sector. One of the banks that recognized the importance of tourism as a strategic economic branch is Privredna Banka Sarajevo, which has just approved multi-million credit funds to Herbal Group Ltd. The uniqueness of Privredna Banka Sarajevo’s operations is reflected in its business strategy, based on a wide range of loans tailored to various customer needs depending on the purpose, term, client’s creditworthiness, and quality of credit security instruments.
Herbal Group is a leading conglomerate in Bosnia and Herzegovina with the highest number of global brands in the food and beverage industry and spa services, with a total of 11 branches and more than 1 million services provided annually. Herbal Group owns franchises for the American Caribou Coffee chain of cafeterias, as well as international brands Herbal Spa, Mado chain of restaurants and confectioneries, and the local fast-food brand Burgo. Herbal Group currently employs 114 people, with a tendency to grow. They currently have active branches in Sarajevo and Visoko, and work is underway for four new locations, two in Sarajevo and two in Mostar. Herbal Group is focused on further growth and development in expanding its portfolio of global franchise brands with the aim of positioning itself among the top five of its kind in the Western Balkans region. With its investments, Herbal Group contributes to the quality of the tourist offer in Bosnia and Herzegovina, with a particular focus on introducing new standards and values in the areas of industry, food and beverages, and spa services provision.
Successful cooperation between the Herbal Group company and Privredna Banka Sarajevo, with continuous support from the USAID Turizam project, is an exceptional example for other business entities that the business environment is conducive to the development of tourism, which will attract additional investments. USAID Turizam, through specialized forms of cooperation, will continue to support investments in the development of the tourism sector and raise awareness about the importance of tourism for the economic growth and prosperity of Bosnia and Herzegovina.
