The Action Plan for the Implementation of the Republika Srpska SME Development Strategy for the period 2024-2026 envisions the realization of 35 projects and activities, with an estimated budget of 449,772,430 BAM, the Ministry of Economy and Entrepreneurship of Srpska told Srna.
The Ministry emphasized that the largest portion of the funds comes from loans provided by the Investment-Development Bank of Srpska with a 49% share, guarantees from the Srpska Guarantee Fund with a 23% share, and incentives from the Ministry with a 14% share.
The remaining funds are sourced from the Republic Employment Service, the Environmental Protection and Energy Efficiency Fund, local government units, and other organizations, as well as donor funds.
“The aim is to improve the business environment for small and medium-sized enterprises and enhance their competitiveness through the development and application of innovations and new technologies, digital transformation, and the application of green and circular economy principles,” the Ministry explained.
They emphasized the importance of providing support to small entities, which are mostly sole proprietors, women, and individuals who wish to start a business in Republika Srpska.
The Ministry reminded that the Action Plan outlines the general timeline for the implementation of priorities, measures, projects, and activities, the financial resources, and the entities responsible for implementation.
“The plan prioritizes projects that continue to provide financial support to business entities, granted by the Ministry, the Employment Service, the Environmental Protection and Energy Efficiency Fund, local government units, and others,” the Ministry stated.
The Ministry also highlighted the importance of loans and guarantees provided to business entities by the Investment-Development Bank and the Guarantee Fund, noting that one of the most significant projects is the establishment of the Science and Technology Park in Banja Luka, to be built in the coming years.
The Ministry believes that the park, as the first form of entrepreneurial infrastructure of its kind in Srpska, will enable new types of support in this field.
Republic institutions and donor organizations also provide support for education and promotion of business entities, and it is necessary to continue supporting crafts and entrepreneurship activities, the development of women’s entrepreneurship, social entrepreneurship, and local economic development through activities at the local government level.
The Ministry of Economy and Entrepreneurship has so far prepared two annual reports on the implementation of plans for the past two years, which were adopted by the Government of Republika Srpska, with a total of 78 activities and projects realized, worth about 300 million BAM or 80% of the total planned value.
They noted that incentives over the past two years have supported the implementation of more than 1,200 business projects in the fields of acquiring new technologies and equipment, digital transformation, crafts, and other purposes.
More than 6,000 individuals have been employed, and 2,170 new entities, mostly sole proprietors, have been established, with over 3,300 people trained.
The Government of Republika Srpska adopted the Action Plan for the Implementation of the Republika Srpska SME Development Strategy for the period 2024-2026 at its session held on May 30, representing the third three-year action plan.
Source: RTRS
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