Within the first call of the Small Project Fund project EmBRACE, implemented by the Croatian Agency for Small Business, Innovation and Investments (HAMAG-BICRO), co-financing with European funds was approved for 24 small cross-border cooperation projects of 66 micro and small entrepreneurs in the program area of Croatia, Bosnia and Herzegovina and Montenegro. The total value of eligible costs of the approved projects amounts to 4,811,916.77 euros, i.e. 4,090,129.24 euros of non-repayable grants from the budget of the European Union within the Cohesion Policy program Interreg Croatia – Bosnia and Herzegovina – Montenegro 2021–2027. The Small Project Fund is an initiative that not only supports the development of border areas, but also builds connections between communities on both sides of the border and encourages cooperation in various fields such as IT solutions, production and innovation.
The ceremonial contract handover to beneficiaries was opened with a welcoming speech by the Minister of Regional Development and EU Funds of the Republic of Croatia, Šime Erlić: “This is the first time that, within the Interreg cross-border cooperation program Croatia – Bosnia and Herzegovina – Montenegro, we have secured special funds for investment in entrepreneurship, that is, through the EmBRACE project we have established a financial line in which the final beneficiaries are small and medium-sized enterprises from the program area. Thanks to our partners from HAMAG-BICRO, we successfully implemented the first call and today handed over 66 contracts worth 4 million euros for 24 new entrepreneurial projects, from landslide monitoring systems, through environmentally friendly furniture to prefabricated nZEB houses and solar carports. I am convinced that these innovative projects will encourage integrated, sustainable and inclusive growth in the cross-border area,” said Minister Erlić, wishing all beneficiaries much luck and success in implementing the projects.
On behalf of Montenegro, the audience was addressed by the Minister of European Affairs of Montenegro, Maida Gorčević, who stated: “Micro and small enterprises are the backbone of the economies of Croatia, Bosnia and Herzegovina and Montenegro. They not only play a key role in the economic development of our three countries, but also employ a large number of people and provide access to various products and services. That is why it is important that we encourage their further growth, sustainability and competitiveness.” Minister Gorčević emphasized that companies supported through the EmBRACE project will be more competitive on the market, both in the region and beyond. “In addition, this support mechanism is of exceptional importance for Montenegrin beneficiaries, as it gives them the opportunity to better prepare for the use of European Union structural funds,” concluded Minister Gorčević.
On the significance of the EmBRACE project for the territory of Bosnia and Herzegovina, the Director of the Directorate for European Integration of Bosnia and Herzegovina, Elvira Habota, emphasized: “Through these projects, whose maximum individual value is up to 200,000 euros, our entrepreneurs will have the opportunity to exchange experiences, explore new market opportunities, increase the competitiveness of their companies, work on the development of new products and services, implement pilot actions and open new jobs. In this sense, the projects we support today show that the size of the investment is not decisive when it comes to creating a positive impact on the local communities in which they will be implemented.”
Vjeran Vrbanec, Chairman of the Management Board of HAMAG-BICRO, commented on the response and quality of the submitted projects for financing within the first call of the Small Project Fund project EmBRACE: “We are pleased that, due to the large number of highly quality submitted projects, we increased the allocation from the originally planned 3 million euros to as much as 4.1 million euros, which clearly shows that this project, which is for the first time focused on cross-border cooperation of entrepreneurs in the area of Croatia, Bosnia and Herzegovina and Montenegro, has exceeded our expectations. We are glad that the aspiration to improve business and develop innovative processes and products encourages cooperation between these three countries, as well as entrepreneurs whom we are sure will achieve good business results and contribute to the development of our economies.”
As host, the Mayor of Mostar, Mario Kordić, also greeted those present and stated: “The City of Mostar strongly supports the development of the economy, recognizing the importance of European funds for strengthening the capacities and competitiveness of our entrepreneurs. We are happy that through the EmBRACE program the possibility of drawing funds has been secured, which will contribute not only to the development of their businesses, but also to the overall economic progress of our city and region.”
The ceremonial contract award ceremony within the first call of the Small Project Fund project EmBRACE was attended by the Ambassador of the Republic of Croatia to Bosnia and Herzegovina Ivan Sabolić, the Consul General in Mostar Dr. sc. Marko Babić, the State Secretary from the Ministry of Regional Development and EU Funds of the Republic of Croatia Domagoj Mikulić, the Deputy Chairman of the Management Board of HAMAG-BICRO Ante-Janko Bobetko, Board Member of HAMAG-BICRO Želimir Kramarić, and the directors of departments within the Ministry of Regional Development and EU Funds of the Republic of Croatia Stella Arneri and Ivan Bota.
The total value of the Small Project Fund project EmBRACE (Enhancing MSEs sustainaBle gRowth And CompEtitiveness) amounts to EUR 11,764,706, of which, for the first time in this program area, a total of EUR 8,725,324.36 from the European Regional Development Fund and IPA III is available to micro and small entrepreneurs. European funds can co-finance up to 85% of the total project value, while the highest amount of European funds that can be achieved per small project is EUR 200,000.00.
The second call within the Small Project Fund project EmBRACE will be published in mid-2025 on the official websites of HAMAG-BICRO.
