SARAJEVO, December 8 (FENA) – The European Bank for Reconstruction and Development (EBRD) and the European Union (EU) are implementing the project “Program for Increasing the Competitiveness of Small and Medium Enterprises in BiH”, and one year after the project worth 16.23 million euro EBRD loan was secured to SMEs.
Also, project participants can expect more than two million euros in European Union grants.
Through this project, the EBRD is providing a total of 26 million euros to local SMEs. Companies applying for loans can also take advantage of technical assistance in project preparation, as well as a 15 percent incentive funded by the European Union.
The “SME Competitiveness Program” was developed specifically to help privately owned SMEs meet EU regulations and understand the related requirements for improving their products and processes.
Current EBRD and EU support is designed to increase the competitiveness of SMEs in local, regional and EU markets through alignment with EU directives and standards in the areas of occupational safety, environmental protection and product safety and quality.
To date, as many as 85 projects with a total value of EUR 16.23 million have been financed through the EBRD credit line, of which 56 have already been implemented and approved, while 29 projects are in the process of approval. Funded projects are in the field of production (50 projects), retail and services (11 projects), food and beverages (nine projects), transport (seven projects), medical sector (four projects), construction (two projects), and agriculture and agricultural industry (two projects), the EBRD said.