CEB strengthens support for micro-businesses in Bosnia and Herzegovina

The Council of Europe Development Bank (CEB) has approved a € 5 million loan to Mikrofin Microcredit Company to provide funds to micro-enterprises in Bosnia and Herzegovina for the partial financing of their productive investments.

Micro-businesses play an important role in the economy of Bosnia and Herzegovina and are a major source of employment in a country where unemployment rates are much higher than the EU average. Nevertheless, micro-business owners have difficulty accessing financing for their productive investments.

The funds provided by the CEB will be channelled through to micro-enterprises, farmers and households engaged in small family businesses. Particular attention will be given to low-income micro-entrepreneurs wishing to develop their business. It is expected that at least 3,800 micro-enterprises, farms and households with a family business will benefit from the funds.

This is not the first loan provided to Mikrofin by the CEB. The first loan of € 2channeled was approved in 2014 and has fully disbursed. In 2018, the CEB approved loans of € 2 million to two other micro-lenders in Bosnia and Herzegovina, MI-BOSPO and Partner, both based in Tuzla.

Original source: CEB
Published on 29 January 2019