The EU4BusinessRecovery project aims to reduce the impact of the Covid-19 pandemic on agricultural and tourism enterprises, micro, small and medium-sized enterprises (MSMEs) in the metal, wood-processing, and textile/apparel/footwear sectors, as well as on entrepreneurs and farmers.
The project ensures business continuity to preserve existing jobs and thus to reduce negative social consequences such as unemployment, poverty, or migration.
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Export-oriented sectors
Tourism
Agri-food sector and rural development
Entrepreneurship
Micro, small and medium-sized enterprises in Bosnia and Herzegovina create jobs and drive economic growth. With the aim of strengthening BIH’s economy, the European Union supported project, EU4Business helped the development of entrepreneurship, export-oriented sectors, tourism and agriculture, as well as rural development.
For this purpose, more than EUR 10 million was allocated in grants through 82 development projects throughout Bosnia and Herzegovina.
Among others, 11 partnership projects were supported to alleviate obstacles to innovation, growth and development of export sectors, as well as 23 export-oriented companies, and 8 projects from the tourism sector.
For entrepreneurship, the focus was placed on five projects through which support was provided for the establishment of 123 new businesses and startups, of which 53 are in the IT sector.
In addition to that, 35 projects in the sector of agriculture and rural development were supported.
EU4Business, among other factors, contributed to the creation of 913 new jobs in all supported areas (export-oriented sectors, tourism, agri-food and rural development and entrepreneurship).
The end users and beneficiaries were micro, small and medium enterprises, farmers and entrepreneurs, with a special emphasis on youth, women and vulnerable groups. The project also improved the business environment in BiH.
The EU4Business project is worth EUR 16.1 million and was jointly financed by the European Union (EUR 15 million) and the Federal Republic of Germany (EUR 1.1 million). The project was jointly implemented by GIZ, ILO and UNDP, from April 2018 to July 2022.
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