News in English     | 09.11.2021. 14:45 |

EU4Business Recovery - EUR 1.4 million to help entrepreneurs in textile sector

FENA Press release

SARAJEVO, November 9 (FENA) - As part of a joint project of the European Union and the Government of the Federal Republic of Germany - EU4Business Recovery to help entrepreneurs fight the consequences of the Covid-19 pandemic, the International Labor Organization (ILO) announced today a public call for small and medium companies operating in the textile, clothing, leather and footwear sector, to submit project proposals for financial support.

Under the call, 1,400,000 euros in grants will be available for recovery measures for small and medium-sized enterprises in the textile, clothing, leather and footwear sectors in Bosnia and Herzegovina.

The amount of possible approved funds per project is up to 51,129 euros, and the grant can be used to increase the capacity of employers to develop new products and services, digitalization and more efficient use of resources and recovery of the supply chain, which will ensure business continuity.

Also, the goal of the support is to enable employers to adopt sustainable business models, diversify their offer and become more resilient, while retaining the existing workforce and gradually creating the preconditions for creating new jobs.

The EU4Business Recovery project supports micro, small and medium enterprises in Bosnia and Herzegovina to continue doing business and preserving jobs, and will especially support entrepreneurs, young people and other vulnerable groups in starting their own businesses and overcoming the negative impact of the Covid-19 pandemic by creating a more resilient business environment.

The total value of the project is 13.7 million euros, and it is jointly financed by the European Union (13 million euros) and the Government of the Federal Republic of Germany (0.7 million euros). EU4Business Recovery is jointly implemented by GIZ, ILO and UNDP, from 2021 to 2023.

In the period from 15 to 19 November this year, the ILO will organize online info sessions to provide additional information and instructions regarding the call for project proposals, the International Labor Organization said.

(FENA) S. R.

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