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Bosnia's Serb Republic to back local companies' investments with 6.1 mln euro

Bosnia's Serb Republic to back local companies' investments with 6.1 mln euro Bosnian marka Source: www.vladars.net

SARAJEVO (Bosnia and Herzegovina), March 29 (SeeNews) - The economy ministry of Bosnia's Serb Republic said it will provide 12 million marka ($6.8 million/6.1 million euro) to local firms as co-financing for direct investments in 2022.

Some 25% of the funding will be allocated to firms with up to 50 employees which have recorded operating revenue of up to 3 million marka in 2021, the ministry said in a statement last week.

Firms can apply for co-financing of investment projects such as purchasing new technology and equipment, as well as for business development and innovation.

The applicants have to operate in the textile, clothing and footwear, industrial wood processing, metal, electrical, rubber and plastic, paper and graphic, chemicals, pharmaceuticals and non-metallic mineral products industries.

The call for investment projects is open for 30 days from the announcement date, which is March 25.

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

(1 euro = 1.95583 marka)

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