Establishment

Print
PDF

Microcredit Foundation MI-BOSPO is a legal follower of MCO 'MI-BOSPO' that was established in 2000 by the Humanitarian organisation 'Bosnian Council for Aid-BOSPO', Tuzla (www.bospo.ba), which in that way formed its microcredit program as a separate legal entity.  Microcredit programme in BOSPO commenced in March 1996 as a pilot project of the World Bank with the purpose of researching the needs and possibilities for establishment of micro-crediting in BiH. That was the time when the foundation for the general orientation, social mission and values which institutions of micro-crediting must follow were made.

In that period, BOSPO identified a significant number of women who in the post-war period, did not want nor would they allow themselves to depend only on humanitarian or social aid. Those were women who with a small investment in the trade and different service-providing activities, tried to increase their family income. With those earnings, women provided better quality of life for family members, meaning means for schooling of children and better accommodation. Improved financial status and participation of a woman in earning for the family created better harmony within the family.

Micro crediting was a better response to their needs then humanitarian aid. Hence, BOSPO started with disbursement of loans, cash, in order to help women to maintain and develop activities used to increase household income. Women welcomed this project, and were very responsible in taking loans and repaying them, while BOSPO learned from the best practices in the world on the finest ways to work, methodologies to apply…

The Law on microcredit organisations was adopted in June 2000. This Law enabled registration of BOSPO’s microcredit program as an independent legal entity, or in other words it provided grounds for establishment of Microcredit organisation MI-BOSPO Tuzla.

Microcredit organisation MI-BOSPO Tuzla was officially registered on 18.12.2000. with Federal Ministry for Social Politics, Displaced Persons and Refugees.

On 31st March 2008, the Federal Ministry of Justice officially registered Microcredit organisation “ MI-BOSPO” in FBiH Register of microcredit foundations, as a legal follower of MCO “MI-BOSPO”. In this way, MI-BOSPO became the first institution in FBiH that was re-registered in microcredit foundation in line with the new legal framework.