EU4BusinessRecovery provides Corona support for businesses in Bosnia and Herzegovina

Project description

Title: COVID-19 Investment Response – EU4BusinessRecovery
Commissioned by: Federal Ministry of Economic Cooperation and Development (BMZ), European Union (EU)
Country: Bosnia and Herzegovina
Lead executing agency: Ministry of Foreign Trade and Economic Relations (MoFTER) of Bosnia and Herzegovina
Overall term: 2021 to 2023

Context

Micro, small and medium-sized enterprises (MSMEs) are driving growth and creating jobs in Bosnia and Herzegovina. The COVID-19 crisis and the resulting restrictions on mobility and entrepreneurship have radically disrupted the supply chains and exports of manufacturing MSMEs in the wood and metal industry, as well as business activities in the agriculture industry, and international tourism.

EU4Busniess Recovery aims to mitigate the impact of the COVID-19 crisis on agri-food and tourism operators, MSMEs, entrepreneurs and farmers. The project ensures business continuity to preserve existing jobs and thus reduce negative social consequences such as unemployment, poverty or migration.

It also supports the development of start-ups by unemployed people, women or people belonging to vulnerable groups (e.g., minorities).

Objective

Bosnia and Herzegovina is ensuring continuity for micro, small, and medium-sized enterprises (MSMEs) in important sectors of the economy to mitigate the negative effects of the COVID-19 crisis.

Approach

EU4BusinessRecovery provides technical and financial support. A total of 10 million Euros is available in grants to MSME, farmers, and entrepreneurs, with a focus on women and youth.

The project is making an economic and social contribution in the fields of hygiene and occupational safety, job security, product innovation, and digitalisation.

It is being jointly implemented by Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH, the International Labour Organisation (ILO) and the United Nations Development Programme (UNDP).

Last update: April 2021

Further Information