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One of the most important instruments of the CREDO Krajina Project is the Development Fund in the amount of one million EUR. The funds from the Development Fund are in the form of a grant and they are intended for co-financing of the projects from the metal, wood processing and food industry as well as the leather and footwear industry, and also the projects implemented by the local self-governance units and non-profit organizations in the Krajina region. All the beneficiaries are requested to co-finance the project in the amount of at least 50% of the project value, while the maximum grant amount per project amounted to BAM 30,000. Three public calls were published – on 2nd June 2014, 20th April 2015 and 14th March 2016.
Based on the three published public calls for financing of projects, grants in the amount of BAM 1,639,131 were disbursed to the companies. Observed by business activities, the companies from the metal industry were paid grants in the total amount of BAM 700,131, the wood processing industry companies were paid grants in the total amount of BAM 519,881, the food industry companies were paid grants in the total amount of BAM 221,955 and the leather and footwear industry were paid grants in the total amount of BAM 197,226.
Structure of the allocated grants of the Development Fund of CREDO Krajina project by sectors (in BAM)
It is interesting to emphasize that, based on the approved BAM 1,639,193 grant funds from the CREDO Krajina Project Development Fund, the companies invested in their development projects additional BAM 5,993,874, so that, on average, an additional BAM 3.66 was invested on BAM 1 of the grant funds.
The structure of financing development projects by sectors (in BAM)
Based on the supported projects that the companies have already implemented, the total of 62 priority sector companies were supported through the grant funds, by which 489 new jobs were created. The wood processing industry created 171, the metal industry created 147, the leather and footwear industry created 121 and the food industry created 50 new jobs.
New jobs by sector
This way, the goal set in the project task to support opening of 200 new jobs was exceeded by almost two and a half times.
Not only the industrial companies were supported through the CREDO Krajina Project Development Fund but also two local self-governance units and seven non-profit organizations, whose projects were aimed at the improvement of the business infrastructure and environment, as well as capacity development and measures of support for the improvement of the companies’ competitiveness.
– Grant beneficiaries in the first public call – local language
– Grant beneficiaries in the second public call – local language
– Grant beneficiaries in the third public call – local language
Infographic with results of CREDO Krajina project:
Flood Recovery Fund
In May 2014, BiH was hit by severe floods that caused huge damages on business and industrial facilities, plants, raw materials and finished goods, in an estimated amount of EUR 346.55 millions. The Government of Sweden and Enterprise Development Agency Eda together with the Association NERDA, a partner in the implementation of the whole project, reacted fastest of all and for more than 50 companies hit by the floods, they approved grants in the amount of almost BAM one million for the construction works on the repair of their facilities, purchasing and repair of machines and equipment, and for purchasing of necessary raw and production materials. This was the first aid for recovery from floods that the companies received.