SINERGIJA PLUS

  • Sinergija was founded as a citizens association by a group of local experts to implement different development projects in the areas of socioeconomic and market economy in Bosnia and Herzegovina.
  • With the support of the World Bank Local Initiative Project, Sinergija started a micro credit program in 1997, and founded a separate legal entity MKO SINERGIJA plus under the Law of Republika Srpska (Rs) in December 2001. In compliance with this law, the organization only offers loans up to 30.000 BAM or €15.000 and 3 year maturity.
  • Unlike many BiH MFIs, Sinergija, does not have the international umbrella support of international networks. The organization seeks to support and promote socio-economic development and market-oriented economy in the Republic of Srpska, through inter-entity cooperation as the basic precondition for the process of democratization in BiH.
    With an outstanding portfolio of about €13 million and more than 9.600 active loans, Sinergija is a mid-size MFI with about 6% market share.
  • The organization is present in almost all of the North-western territory of RS through its network of 19 Offices that covers 25 municipalities. Unlike larger MFIs, which are rapidly expanding to new geographical areas, the organization has a more conservative approach focusing on building strong relations with its clients positioning itself as a local MKO in RS.

Project 1 Details:

Country: Bosnia and Herzegovina

Project: Product Costing and Technical Assistance to strengthen the efficiency of the lending process in MKO Sinergija, Bosnia and Herzegovina.

Period of the Project: July - September 2007. 

Product/Services supplied: Detailed portfolio analysis, Gross profitability analysis, Definition of direct and indirect costs, Operating costs and net profit, Developed Product Costing Model and its user manuals, Products Contribution to Target Profit, Findings on capacity utilization, Technical Assistance to strengthen the efficiency of the lending process.

Decentralization Strategy to be implemented in 2008.

Financial Sponsor: European Fund for Southeast Europe(EFSE)

Team: Two international expert consultants and two institutional counterparts.


Project 2 Details:

Country: Bosnia and Herzegovina

Project: Product Costing and Technical Assistance to strengthen the efficiency of the lending process in MKO Sinergija, Bosnia and Herzegovina.

Period of the Project: July 2008 - March 2009

Proyecto: Descentralization Process in MKO SINERGIJA PLUS – Bosnia & Herzegovina

Product/Services supplied: Based on decentralization strategy PPP supported Sinergija to adjust its Credit Manual and formalise internal control procedures, in order to decentralise (up to a certain level) credit approval and loan tracking functions to branches.

Additional Products: PPP developed (1) a software application that could be used by loan officers to evaluate credit risk through financial analysis, (2) report templates in the MIS and training on credit monitoring to strengthen the function of portfolio management at the branch level.

Financial Sponsor: European Fund for Southeast Europe(EFSE)

Team: Two international expert consultants and two institutional counterparts.

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