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Bosnia's Federation allocates 4 mln euro to back SMEs

Bosnia's Federation allocates 4 mln euro to back SMEs Sarajevo, Photo: M DOGAN/shutterstock.com

SARAJEVO (Bosnia and Herzegovina), March 21 (SeeNews) - The government of Bosnia's Federation said it has allocated 7.87 million marka ($4.45 million/4 million euro) in its 2022 budget to support the development of small and medium-sized enterprises (SMEs) and entrepreneurs.

The entity will provide some 4.67 million marka in subsidies to strengthen the competitiveness of private companies and to support newly established companies and firms engaged in traditional and old craftsmanship, the entity's government said in a statement on Sunday.

Furthermore, the Federation has allocated some 2 million marka for the construction of business zones and will provide subsidies to business associations.

It will also subsidise interest rates for loans to SMEs and provide low-interest loans to companies through the Development Bank of the Federation of Bosnia and Herzegovina.

The Federation is one of two autonomous entities forming Bosnia and Herzegovina. The other one is the Serb Republic.

(1 euro = 1.95583 marka)

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