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News / EU and Germany allocate €3 million for business recovery in BiH
The EU4BusinessRecovery project funded by the EU and the German government has launched a public call for project proposals in the metal and wood-processing sectors in Bosnia and Herzegovina. The project will ensure business continuity for small and medium-sized enterprises that have been affected by the COVID-19 pandemic. In addition, the call will support the creation of start-up companies.
The overall funding available through this call is €3 million while the funding amount per project is €48,000. The funding will be available for activities including the implementation of industry standards, purchase of state-of-the-art energy efficient machinery, dual or multi-source strategies in purchasing, development of a market entry strategy, and digital marketing innovation.
The EU4BusinessRecovery project was launched at the beginning of this year to support micro, small and medium-sized enterprises in Bosnia and Herzegovina to continue their business activities and preserve jobs. The total value of the project is €13.7 million, jointly funded by the European Union (€13 million) and the German government (€0.7 million euros). EU4BusinessRecovery is jointly implemented by GIZ (the German Corporation for International Cooperation), the International Labour Organization, and the United Nations Development Programme, and runs from 2021 to 2023.
Photo credits: EU4BusinessRecovery
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