Sarajevo, Bosnia and Herzegovina, November
19, 2007 — IFC, a member of the World Bank Group, helps LORA, a distribution
company based in Bosnia and Herzegovina, implement IS0 9001-2000, an international
standard in quality management. This will help the company improve its
During September and October, a team
of auditors from the Norwegian certification body DNV conducted a detailed
examination of LORA’s newly established management system to make sure
it was in line with the standard ISO 9001:2000.
“LORA is the first distribution company
in Bosnia and Herzegovina to receive this certification. It will help increase
our competitiveness in regional and international markets. The assistance
we have received from IFC in implementing the standard was critical,”
said Haris Abdurahmanovic, General Manager of LORA.
“We were glad to assist LORA in completing
this complex process. IFC is also helping other companies in the country
implement international standards to increase their exports and competitiveness,”
said Selma Rasavac, Manager of IFC’s international standards and technical
regulations project in Bosnia and Herzegovina.
In Albania, Bosnia and Herzegovina,
FYR Macedonia, Montenegro, and Serbia, companies face steep challenges
in meeting most international standards and technical requirements of the
European Union. These standards must be adopted by local companies if they
hope to export their products and be recognized as a part of the global
economy. To help, IFC is implementing an international standards and technical
regulations program in the region, with support from the Norwegian Ministry
of Foreign Affairs and the Slovenian Ministry of Economy.
IFC, a member of the World Bank Group,
fosters sustainable economic growth in developing countries by financing
private sector investment, mobilizing private capital in local and international
financial markets, and providing advisory and risk mitigation services
to businesses and governments. IFC’s vision is that poor people have the
opportunity to escape poverty and improve their lives. In FY07, IFC committed
$8.2 billion and mobilized an additional $3.9 billion through loan participations
and structured finance for 299 investments in 69 developing countries.
IFC also provided advisory services in 97 countries. For more information,
IFC is helping companies in transition
economies of Southern Europe introduce international standards and technical
regulations to support development of the private sector in the region.
By implementing these standards, companies are overcoming technical barriers
in international commerce caused by differences among regulations and standards
developed independently by each nation. To learn more about IFC advisory
services programs in Southern Europe, visit www.ifc.org/pepse.