The Delegation of the European Union to Bosnia and Herzegovina and the European Bank for Reconstruction and Development (EBRD) launched today in Sarajevo a new two-year programme of support to competitiveness of small and medium-sized enterprises (SME) in Bosnia and Herzegovina.
The programme will foster development of SME through the transfer of best EU practices in implementation of the Small Business Act for Europe (SBA), the guiding strategy for SME development in the European Union.
The total value of the programme is 2,656 MEUR, of which the European Union provided 2 million EUR from IPA 2013. Overall so far the European Union has provided more than 40 million EUR in supporting entrepreneurship in Bosnia and Herzegovina.
Ambassador Lars-Gunnar Wigemark, Head of the European Union Delegation to Bosnia and Herzegovina and European Union Special Representative, said: “There is an urgent need for Bosnia and Herzegovina to improve its business climate and create opportunities for economic recovery. The programme that we are launching today represents a continued EU effort to help you in tackling the obstacles that hamper development of SMEs, which are the backbone of the economy. This very much compliments the recommendations of the Compact for Growth and Jobs which aims to help the country to catch up with its neighbours in terms of the business environment and the actions needed to spur investment and create jobs.”
The programme will support over 130 small and medium-sized enterprises in Bosnia and Herzegovina through advisory projects drawing on the expertise of international advisers and local consultants. Additionally, the programme will disseminate SBA best practices through seminars and awareness-raising activities, combined with training provided to local consultants, entrepreneurs and managers on the principles of the SBA.
Mirko Sarovic, Minister of Foreign Trade and Economic Relations of Bosnia and Herzegovina, said: “We welcome this on-going commitment from the EU and the EBRD to supporting SME development in Bosnia and Herzegovina. SME form the majority of businesses in BiH and programmes like this which focus on knowledge-transfer and competitiveness, are very relevant.”
The EBRD will be implementing this comprehensive SME support programme until the end of 2016 which builds on their previous programmes implemented in various countries, including current small business support activities in BiH.
Ian Brown, Head of Office EBRD in Bosnia and Herzegovina, said: “We believe a vibrant SME sector is a vital part of a healthy market economy. Providing small businesses with the tools they need to become more competitive, innovate and grow is important for the sustainable development of the private sector in BiH.”
Today’s launch Conference in Sarajevo was hosted by the EBRD and attended by more than 70 representatives of the local business community, government officials and stakeholders in private sector development.
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