Bosnia’s micro, small and medium-sized enterprises (MSME) have got three million Euro available grant to foster innovation, business cooperation, digitalisation and business environment through a European Union-funded EU4Business project.

Supporting Bosnia’s export in competitive sectors strengthens the role of small and medium-sized enterprises (SMEs) as well as the local producers, said Nicolas Bizel, a representative of EU’s office in Sarajevo, presenting the Call for Proposals for Partnerships in the Export-oriented sectors.

“Although MSMEs are prevalent in Bosnia and Herzegovina’s economy, big companies are more successful exporters. Exports of SMEs have the potential for growth, therefore, by supporting Bosnia and Herzegovina’s exports in competitive sectors, we are strengthening the role of SMEs and local producers and their competitiveness. Most importantly, this support will allow for the creation of new jobs“, said Bizel.

The total amount of 10 million Euros, available in grants via EU4Business, is devoted to strengthening of growth and employment in Bosnia through the development of competitiveness and innovation in selected sectors.

The project is worth 16.1 million Euros and it is jointly funded by the European Union and Germany.