The Government of Hungary has approved funding to the tune of US$36.5 million (€35 million) to support the SMEs in the Serb Republic of Bosnia. Milorad Dodik, a Serb member of Bosnia’s collective presidency, revealed that 1,400 small businesses in the Serb Republic would each get up to €25,000 for purchasing machinery and equipment made in Hungary. The Serb Republic is expected to invite applications from interested SMEs early in September. The Hungarian government is also planning to contribute an additional €35 million in 2023 to support the economy of the Serb Republic, which is one of the two autonomous entities in Bosnia and Herzegovina.
