Bosnia's Federation allocates 6.6 mln euro for SMEs support

The ministry signed a letter of intent for cooperation with the local UNDP office for the realisation of the project aimed at strengthening the competitiveness of SMEs, it said in a press release earlier this week.

The UNDP, supported financially by Sweden, will offer the ministry professional and technical assistance to effectively design an integrated support package for SMEs. Additionally, it will supply software solutions to fully digitise the project, as stated in the press release.

The support package includes assistance for technological modernisation, digital transformation, investments in circular economy, energy efficiency improvements aligning with green and digital economy transitions, and adoption of international quality standards.

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

(1 euro = 1.956 marka)