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MOSTAR, February 4, 2025 – In a significant step towards promoting the development of local micro and small enterprises and enhancing their cross-border business cooperation, 24 small cross-border cooperation projects received EU co-financing under the first Call of the Small Project Fund EmBRACE. The contract award ceremony was organized by the Croatian Agency for SMEs and Investments (HAMAG-BICRO) in Mostar and attended by high government officials from Programme participating countries.
The EmBRACE Small Project Fund project (Enhancing MSEs sustainaBle gRowth And CompEtitiveness) is operated by HAMAG-BICRO and funded under the Interreg VI-A IPA Program Croatia – Bosnia and Herzegovina – Montenegro 2021–2027. The total value of approved projects amounts to EUR 4,811,916.77, with EUR 4,090,129.24 in grants from the European Union budget.
High government officials from Croatia, Bosnia and Herzegovina and Montenegro and representatives of HAMAG-BICRO attended the event, including Šime Erlić, Croatian Minister of Regional Development and EU Funds of Croatia, Elvira Habota, Director of the Directorate for European Integration of Bosnia and Herzegovina, Maida Gorčević, Minister of European Affairs of Montenegro, and Vjeran Vrbanec, Chairman of the Board of Directors of HAMAG-BICRO, who all highlighted the economic impact of the EmBRACE project and expressed their support for strengthening cross-border business ties. The host, the Mayor of Mostar, Mario Kordić, welcomed the initiative, stressing that European funding is crucial for enhancing the competitiveness of local businesses.
The total value of the EmBRACE project is EUR 11,764,706, of which a total of EUR 8,725,324.36 from the European Regional Development Fund and IPA III is available to micro and small entrepreneurs in the programme area for the first time.
A second call for proposals is expected in mid-2025, offering further opportunities for cross-border business partnerships.
More information about the programme is available on the official website https://interreg-hr-ba-me.eu/, as well as on the project platform at https://cbchb.eu/cbc-cro-bih-mne/embrace/.
