The EU4BusinessRecovery project aims to reduce the impact of the Covid-19 pandemic on agricultural and tourism enterprises, micro, small and medium-sized enterprises (MSMEs) in the metal, wood-processing, and textile/apparel/footwear sectors, as well as on entrepreneurs and farmers. The project ensures business continuity to preserve existing jobs and thus to reduce negative social consequences such as unemployment, poverty, or migration.
With the financial support of the European Union (EUR 13 million) and the Ministry of Economic Cooperation and Development of the Federal Republic of Germany (EUR 700,000), the project is jointly implemented by Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH, the International Labor Organization (ILO) and the United Nations Development Program (UNDP). The overall project duration is from 2021 to 2023. It is complementary to the joint EU4Business project, an ongoing project that already showed numerous results.
The overall goal of the project is to ensure the survival of micro, small and medium enterprises (MSMEs) in important economic sectors of Bosnia and Herzegovina to reduce the negative effects caused by the Covid-19 pandemic. The project makes an economic and social contribution in the fields of hygiene and occupational safety, job security, product innovation, and digitalization.
EU4BusinessRecovery provides technical and financial support. Overall, EUR 10 million are available for support to MSME, farmers, and entrepreneurs, with a focus on women,youth and persons who belong to vulnerable groups (e.g.minorities).
It is expected that the EU4BusinessRecovery project will support at least 150 companies to recover their business activities and retain more than 1,000 jobs. The project also expects to help create at least 100 innovative start-ups.