SARAJEVO, November 1 (FENA) – EU4Business project announced yesterday the commencement of 34 development projects worth EUR 4.2 million to assist the export-oriented sectors in Bosnia and Herzegovina, for a competitive and innovative domestic economy.
The implementation of the project, worth 4.2 million euros, will contribute to increasing exports and retaining existing and creating new jobs.
Through these 34 projects, more than 300 companies in the field of metal processing and machine industry, wood processing and the information and communication technology (ICT) sector will receive support, and funds will be invested in innovation and new equipment and digitalization of business. Including the implementer’s own investments, the total value of the project is 7.1 million euros.
Richard Máša, Head of Cooperation at the Delegation of the European Union to Bosnia and Herzegovina, said that the European Union through EU4Business continues to support the BiH manufacturing industry and that the Covid-19 pandemic has increased the interest of small and medium enterprises in digital transformation.
“The forthcoming EU support of approximately EUR 30 million will further stimulate investment in digital technologies and skills to increase the resilience of SMEs to the effects of the crisis. The European Union stays with BiH businessmen in these challenging times,” he pointed out.
GIZ Director for Bosnia and Herzegovina and Montenegro, Brigitte Heuel-Rolf, believes that investments in digitalization enable small and medium-sized enterprises to become more competitive and increase exports.
“In addition, the support of the EU and the Government of Germany through the EU4Business project will save jobs and create new opportunities for employment of educated young people,” said Heuel-Rolf.
The projects were selected in accordance with the criteria of two public calls published by EU4Business in 2019.
The EU4Business project is jointly implemented by GIZ, ILO and UNDP, from April 2018 to March 2022. EU4Business is part of the Local Self-Government and Economic Development Program in BiH supported by the Government of the Federal Republic of Germany, GIZ stated.