The Federal Ministry of Displaced Persons and Refugees has issued a public call for applications for co-financing diaspora investment projects in returnee communities in Bosnia and Herzegovina (BiH).
The public call was issued for the areas of medium-developed, underdeveloped, and extremely underdeveloped municipalities and cities in accordance with the development index of the Federal Institute for Development Programming.
“The goal of the Public Call is to support the realization of investment projects initiated by entrepreneurs from the BiH diaspora for the purpose of economic empowerment of returnees in the returnees’ places, and to encourage citizens residing outside the country to contribute to the economic progress of the Federation of BiH (FBiH) and BiH,” the Ministry announced.
Minister Nerin Dizdar says that the Ministry has issued this public call, for the first time, in accordance with the commitment of the new FBiH Government and the Ministry to ensure the long-term economic stability of returnee communities.
“Another equally important strategic decision is to stop the emigration of the population and create the conditions for a possible reversal of the trend, and the inclusion of diaspora in socio-economic trends in BiH. I remind you that according to official data, nearly 4 billion BAM are paid into accounts in BiH from abroad every year, not counting the financial aid that is remitted outside the banking system. This is a huge economic potential that at the same time confirms that our diaspora has the desire and determination to contribute to the economic stability of BiH,” says Dizdar.
He explained that the intention is to create systemic preconditions that will enable BiH citizens abroad to invest their own funds and contribute to the development of our country in the most efficient way.
“With this public call, with which, along with the reintegration of our diaspora into domestic flows, we want to give a stronger impetus to the employment of returnees, we are embarking on the realization of strategic goals in terms of redefining the role of the ministry, which intends to focus a lot more on development, economic measures to support the return of our citizens,” Dizdar emphasized.
Investors, legal entities, business entities registered outside BiH whose owners/majority co-owners are citizens of BiH residing outside BiH, and who plan to expand their business to the territory of BiH within 90 days from the date of signing the agreement on the allocation of funds under this Public Call, have the right to participate.
The right to participate is also available to natural persons, citizens of BiH who have a residence abroad and intend to invest in starting a new company in BiH.
Planned funds for the co-financing of investment projects in accordance with this Public Call amount to a total of 600.000 BAM. The value of co-financing of one investment project by the Ministry will amount to 150.000 BAM. Selected investors undertake to realize at least 70 percent of their investment in money, which will be proven by a certificate from an authorized financial institution (bank) about the transfer of capital in BiH, when signing the agreement on the allocation of funds under this Public Call, and realize the remaining value through investment in facilities, equipment, training of workers, and licensing/certification.
The deadline for submitting applications is September 15th, 2023, Biznis Info reports.
E.Dz.
