For the purpose of recovery of BiH economy from effects caused by the COVID-19 viral pandemic, the European Union approved EUR 18 million worth emergency support to micro, small and medium-sized enterprises.
These funds will be available through two new projects, namely EU4BusinessRecovery, worth EUR 13.7 million provided by the European Union and the German Government, and EU4AGRI-Recovery, whose implementation started on 1 January this year. The projects are complementary to the two on-going projects, EU4Business (financed by the European Union and the German Government) and EU4AGRI (financed by the European Union), worth over EUR 36 million and aiming to strengthen BiH economy and ensure retention of existing and creation of new jobs.
As part of support in mitigating the economic effects generated by the COVID-19 pandemic in Bosnia and Herzegovina, more than 1,000 jobs threatened by effects of the pandemic will be retained, and at least 100 new jobs will be created as a result of the new „EU4BusinessRecovery“ project of the European Union and the German Government. The project will support micro, small and medium-sized enterprises to continue their business operations and retain jobs, especially supporting women entrepreneurs, young people and other vulnerable groups to start up their own businesses.
In addition to the support to micro, small and medium-sized enterprises, the European Union also launches a support measure to mitigate negative economic effects caused by the COVID-19 pandemic in agri-food sector and rural development. The new project „EU4AGRI-Recovery” will provide direct support to farmers, businesses and rural tourism operators to develop long-term resilience in the sector, retain existing and create new jobs, especially for women and youth. Within the project, more than 400 jobs will be retained, while at least 100 new jobs will be created with the focus on environment and sustainable agriculture. Additionally, establishing of 20 new innovative and environmentally responsible start-ups will be supported.
Information about projects, activities, and how to apply for grants of the European Union as part of the two new projects, as well as about EU4Business and EU4Agri can be found at https://eu4business.ba/ and https://eu4agri.ba/.