EU Helping Bosnia Companies with EUR1.95m  | Beta Briefing

EU Helping Bosnia Companies with EUR1.95m 

Source: Beta
SEE Business / Bosnia | 25.08.20 | access_time 10:32

European union

The EU has provided support for investments by 29 Bosnian companies and collectives, with a total of KM3.7m (EUR1.85m) in grants for the purpose of alleviating the negative effects of Covid019 on the agricultural and food sector in Bosnia and Herzegovina, a statement released by the institution says. 

Out of 93 applications in a public contest which lasted from May 18 to June 8, 29 companies from Bosnia and Herzegovina qualified for the aid. The total value of these 29 investments is KM5.7m (EUR2.85m), which is being supported by the EU’s EU4Business and EU4Agri projects with KM3.7m. EU4Business supported 15 investments with KM1.9m (almost EUR1m). 

Given that the number of investments was higher than planned, the EU4Agri project supported the remaining 14 investments with KM1.8m (EUR900,000), an EU statement has said. EU4Business is an EU project designed to bolster the capacities for economic growth and jobs in Bosnia by raising competitiveness and innovation in selected sectors. 

EUR4Business is worth EUR16.1m, of which EUR15m is being financed by the EU and EUR1.1m by Germany. EU4Agri is a four-year (2020-2024) project designed to modernize the agricultural and food sector and foster Bosnia’s rural economy. 

EU4Agri is worth EUR20.25m and is financed by the EU with EUR20m, and is co-financed with EUR250,00 and being realized by the UNDP and Czech Development Agency (CzDA). 

The project is focused on raising investment in the food and agricultural sector and improving the know-how and skills of agricultural producers and other participants in the value chain, through the expanded offering of advisory services and enhancing economic conditions in rural areas. 

The project is also facilitating policies through a number of activities, including strengthening institutional capacities and services, as well as improving public policies and regulatory frameworks, the UNDP has said.

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