July 4 (SeeNews) - The government of Hungary has approved 35 million euro ($36.5 million) in funding to support small and medium-sized enterprises (SMEs) in Bosnia's Serb Republic, Bosnian media reported.
About 1,400 SMEs based in the Serb Republic will benefit from up to 25,000 euro each to purchase machines and equipment produced in Hungary, news provider Indikator quoted the Serb member of Bosnia's collective presidency, Milorad Dodik, as saying on Saturday.
The Serb Republic plans to issue a call to interested SMEs in early September, according to the report.
The Hungarian government also plans to provide additional 35 million euro in support of the Serb Republic's economy in 2023, Dodik added.
The Serb Republic is one of two autonomous entities that form Bosnia and Herzegovina. The other one is the Federation.
($ = 0.9582 euro)