EBRD Provides Flood Relief Funding To Bosnia's Small Businesses

2025-01-31 06:12:35

(MENAFN- Trend News Agency) BAKU, Azerbaijan, January 31. The European Bank for Reconstruction and Development (EBRD) and the European Union (EU) are providing vital financial support to small businesses in Bosnia and Herzegovina affected by the 2024 floods, Trend reports.

To help them recover, the EBRD has extended a 2 million euro loan to Mikrofin d.o.o., a local microfinance institution. This funding will enable Mikrofin to offer loans to small businesses in flood-hit areas, assisting with repairs and new investments.

The European Fund for Sustainable Development Plus (EFSD+) is backing this investment with a guarantee, which forms part of the EU's broader efforts to support financial inclusion and mitigate risks in challenging markets. The EBRD is committed to supporting resilience and recovery in the affected communities.

Stela Melnic, EBRD Director for Bosnia and Herzegovina, expressed the Bank's ongoing dedication to aiding recovery efforts, saying,“The EBRD acted swiftly following the floods, assisting the government with the EU Solidarity Fund application and mobilizing resources to ensure businesses have access to the funding they need to recover.”

In addition to this initiative, the EBRD invested 213 million euros in Bosnia and Herzegovina in 2024, with 90 million euros directed towards green projects aimed at enhancing energy efficiency, renewable energy, and decarbonization. Since 1996, the EBRD has invested over 3.3 billion euros across 241 projects in the country.

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