EU supported 29 investments with 3.7 million KM in grants

EU supported 29 investments with 3.7 million KM in grants

SARAJEVO, August 21 (FENA) – The European Union has supported investments of 29 BiH companies and cooperatives with a total of 3.7 million KM in grants aimed at mitigating the negative impact of Covid-19 in agri-food sector in Bosnia and Herzegovina.

The investments were selected through a public call that was announced on May 18 and closed on June 8 this year. This public call aims to contribute to mitigating the consequences of Covid-19 by supporting optimization of operating costs, maintenance of productivity, liquidity and competitiveness in agri-food sector in BiH; stabilization of existing value chains, and promoting sustainable agricultural production including better governance of natural resources, and protection of environment and people.

Total of 93 applications to the Public call were received out of which 29 fulfilled requested criteria. The total value of these 29 investments is BAM 5.7 million and they are supported with BAM 3.7 million through European Union projects EU4Business and EU4Agri. EU4Business supported 15 investments with BAM 1.9 million. Considering the increased needs of the sector and larger number of applications fulfilling the criteria, EU4Agri supported remaining 14 investments with BAM 1.8 million.

EU4Business is European Union’s project that aims to strengthen BiH’s capacity for economic growth and employment by fostering competitiveness and innovation in selected sectors. EU4Business is worth EUR 16.1 million; EUR 15 million is funded by the European Union and EUR 1.1 million by the Federal Republic of Germany. Project is jointly implemented by the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ), UNDP and International Labor Organisation (ILO). EU4Business is part of the Local Development Strategies – Local Self-Government and Economic Development Programme in BiH by the German Federal Ministry for Economic Cooperation and Development (BMZ).

EU4AGRI is a 4-year initiative (2020-2024) that aims to modernize agri-food sector and support rural economy in BiH. The total value of the project is EUR 20,25 million. It is financed by the European Union in the amount of EUR 20 million and is jointly implemented and co-financed by the UNDP in BiH and Czech Development Agency (CzDA). Project focuses on increasing investments in agri-food sector and enhancing knowledge and skills of agricultural producers and other participants in value chain through widened advisory services and improved economic opportunities in rural areas. Project also supports advancement of policies through a series of activities, including strengthening of institutional capacities and services, as well as improvement of public policies and regulatory frameworks, UNDP announced.