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Bosnia's Federation to support COVID-hit MSMEs, entrepreneurs

World

Photo by By ppart / Shutterstock.com

The government of Bosnia's Federation said it will allocate BAM 6 million (EUR 3.1 million) to subsidize interest rates for loans to companies that are part of the loan and guarantee schemes of the entity's coronavirus guarantee fund, according to a report by SeeNews.

The government will subsidize interest rates of up to 4.5% for micro, small and medium-sized enterprises (MSMEs), as well as craftsmen and other individual entrepreneurs, Amir Zukić, the Federation's Minister of Development, Entrepreneurship and Crafts, said in a statement.

Eligible companies and entrepreneurs will receive the subsidies on a quarterly basis. The Federation is one of two autonomous entities forming Bosnia and Herzegovina. The other one is the Serb Republic. 

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