Following a 4-your implementation, impressive results of EU4Business project were presented today at the “Our steps toward improving competitive and innovative local economy” event.
The project’s objective was to strengthen the economy of Bosnia and Herzegovina and to advance perspective for stronger export and new jobs and was funded by the European Union with EUR 15 mil and by the Federal Republic of Germany with EUR 1.1. mil. The project was jointly implemented by GIZ, MOR and UNDP.
“The European Union plays an important role in creating efficient business environment in BiH. Through EU4Business, the EU showed to be a driver of change in agriculture, tourism and entrepreneurship. We helped in modernizing of export-oriented sectors, in recovery of tourism sector and agricultural and food industry and in creating new and retaining existing jobs“, said Stefano Ellero, Head of Cooperation with the Delegation of the European Union to BiH.
From April 2018 until March 2022, 82 development projects throughout Bosnia and Herzegovina were supported through EU4Business, out of which 35 were in agricultural and rural development sector.
“UNDP has been extremely satisfied with the EU4Business results, and we are proud we were able to contribute to overall results with our partners. The project greatly helped in boosting of competitiveness of agricultural and food industry and generally improved the life quality of BiH citizens“, added Steliana Nedera, UNDP Resident Representative in Bosnia and Herzegovina.
This EU project helped employ 930 people, out of which 667 in export-oriented sector. This very piece of information shows that Bosnia and Herzegovina has the capacity to implement the projects that support development of competitiveness in export-oriented sectors, but also the projects improving innovative capacities in micro, small and medium enterprises.
The focus in the entrepreneurship was put on five projects, which served to support establishment of 123 new businesses and start-ups, out of which 53 in IT sector.
“The objective of the entrepreneurship component of the EU4Business project was to contribute to development and expansion of inclusive entrepreneurship and to improve competitiveness at the local level in Bosnia and Herzegovina”, concluded Lejla Tanović, coordinator of International Labour Organization in BiH.
Its complementary follow-up, the EU4BusinessRecovery project, will technically and financially support businesses until 2023 in agriculture and tourism, micro, small and medium-sized enterprises in the metal and wood sectors, textile, clothing and footwear sectors, as well as entrepreneurs and farmers.
The plan is to restart 150 companies, retain more than 1000 jobs and create minimum 100 innovative start-ups.
More information on EU4Business and EU4BusinessRecovery available at https://eu4business.ba/