The EU4Business project announced today the commencement of 34 development projects worth €4.2 million to assist export-oriented sectors in Bosnia and Herzegovina, thus contributing to increased export, job retention and creation.
The projects will provide support to more than 300 businesses in the metal and mechanical industry, wood processing and sector of Information and Communication Technologies (ICT). BIH companies will invest in innovations, new equipment and digitalise their business operations. The total value of the projects amounts to €7.1 million, including the implementers’ own investments.
“The European Union continues to support Bosnia and Herzegovina’s manufacturing industry. COVID-19 pandemic has increased SMEs’ interest in digital transformation, and Bosnia Herzegovina is no exception. The upcoming EU support of approximately €30 million will further stimulate investments in digital technologies and skills for building up the SMEs resilience in crisis. The European Union remains standing by Bosnia and Herzegovina’s businesses during these challenging times,” pointed out Richard Máša, Head of Cooperation at the Delegation of the EU to Bosnia and Herzegovina.
Dr. Brigitte Heuel-Rolf, GIZ Country Director for Bosnia and Herzegovina and Montenegro, stated: “Investments in digitalisation allow SMEs to become more competitive and raise exports. Moreover, the support provided by the European Union and the German Government through EU4Business preserves jobs and creates new employment opportunities for educated young people”.
The 34 projects were selected in two Calls for Proposals published by EU4Business in 2019:
- Partnerships in the export-oriented sectors, and
- Improvement of micro, small and medium-sized enterprises’ innovative capacity.
More details on each project can be found on the EU4Business interactive map: https://eu4business.ba/en/interactive-map-export-oriented-sectors/
EU4Business is the European Union’s project aiming to strengthen Bosnia and Herzegovina’s capacity for economic growth and employment by fostering competitiveness and innovation in selected sectors. EU4Business is worth €16.1 million, out of which 15 million funded by the European Union and €1.1 million funded by the Federal Republic of Germany. The project is jointly implemented by GIZ, UNDP and ILO, from April 2018 to March 2022. EU4Business is part of the Local Self-Government and Economic Development Programme in Bosnia and Herzegovina supported by the German Government.
For more information, please visit: www.eu4business.ba.
