Four years into project implementation, impressive deliverables of the EU4Business project have been showcased in Sarajevo today at the event ‘Our steps towards improving the innovation and competitiveness of local economy’.
The project aimed to strengthen the economy of Bosnia and Herzegovina, and advance perspectives for stronger exports and new employment. It was financially supported by the European Union with 15 million Euro and the Federal Republic of Germany with 1.1 million Euro, and jointly implemented by GIZ, ILO and UNDP.
“The European Union plays an instrumental role in facilitating an efficient business environment in BiH. Through EU4Business, the EU has shown itself as a game-changer in agriculture, tourism and entrepreneurship. We helped modernise export-oriented sectors, assisted the recovery of tourism sector and agri-food industry, and helped generate new and retain existing jobs”, stressed Stefano Ellero, Head of Cooperation with the Delegation of the European Union to BiH.
From April 2018 to March 2022, 82 development projects throughout Bosnia and Herzegovina were supported through EU4Business, of which 35 in agriculture and rural development.
“UNDP is beyond satisfied with the deliverables of EU4Business, and we are proud that we could contribute to the overall results together with our partners. The project greatly impacted the boost in competitiveness of agricultural and food sector, as well as the general improvement in quality of life of citizens of Bosnia and Herzegovina”, added Steliana Nedera, UNDP Resident Representative in BiH.
Thanks to this EU-supported project, a total of 930 were employed, of which 667 in the export-oriented sector. This data is indicative of Bosnia and Herzegovina’s capacity to implement projects that support the development of competitiveness in export-oriented sectors, as well as projects that improve the innovative capacities of micro, small and medium-sized enterprises.
In the field of entrepreneurship, the focus was on five projects extending support to the establishment of 123 new businesses and start-ups, of which 53 are in the IT sector.
“EU4Business entrepreneurship component aimed to contribute to the advancement and expansion of the model of inclusive entrepreneurship and improve competitiveness at the local level in Bosnia and Herzegovina”, concluded Lejla Tanović, Coordinator of the International Labor Organization in Bosnia and Herzegovina.
As its complementary follow-up, the EU4BusinessRecovery project will support businesses in agriculture and tourism, micro, small and medium-sized enterprises in the metal and wood sectors, as well as the textile, clothing and footwear sectors, but also entrepreneurs and farmers, through technical and financial support by 2023.
The plan is to restart 150 companies, retain more than 1000 jobs and create at least 100 innovative start-ups.
