United States Agency for International Development (USAID) and the Swedish International Development Agency (Sida) through the jointly funded five year project Fostering Interventions for Rapid Market Advancement (FIRMA) supports sustainable economic growth and employment expansion in BiH with a focus on three sectors of the BiH economy – wood processing, tourism and metal processing. FIRMA has principal offices in Sarajevo and Banja Luka.
FIRMA’s overall goal is to help BiH improve “the capacity to cope with competitive pressure and market forces within the European Union”, a critical component of the Copenhagen Economic Criteria for EU accession. FIRMA will do this by working with three sectors of the BiH economy: wood processing, tourism, and light manufacturing. These three sectors, combined, comprise approximately one-fourth of BiH manufacturing GDP and almost 40 percent of its exports.
FIRMA addressed these and other issues, working through local implementing partners to help them identify priority problems and develop the capabilities to carry forward the project’s purposes after it finishes. Critical stakeholders include companies, financial institutions, educational institutions, NGOs, and government agencies. FIRMA will work closely to coordinate its activities with those of other donors, in order to broaden the reach and impact of economic support projects.
The project received a 9-month extension and grant fund of over US$1.7 million, the FIRMA Project supported production, construction, and service and production value chain private sector companies that have suffered damages as a result of the May 2014 floods.
|Location||Bosnia and Herzegovina, Eastern Europe|
|Value||USD 868 Thousand|