Municipality of Stari Grad and BBI Bank jointly encourage the work of entrepreneurs from Stari Grad

An agreement on a financing line to encourage employment for business entities from Stari Grad was signed today by the Mayor of the Municipality of Stari Grad, Ibrahim Hadžibajrić, and the Executive Director of Bosna Bank International d.d. Sarajevo, Emir Čehajić. This agreement defines the conditions and methods by which BBI Bank will provide short-term, medium-term, and long-term financing, with the profit margin subsidized by the Municipality of Stari Grad Sarajevo, exclusively for legal entities registered in the territory of the Municipality of Stari Grad. From the moment the agreement is signed, a financing fund in the amount of 1,200,000 KM will be available to entrepreneurs from Stari Grad, and the Municipality of Stari Grad will subsidize their profit margins with an amount of 40,000 KM.

Mayor Hadžibajrić reminded that the Municipality of Stari Grad, through its Local Development Sector, conducted a selection process for the bank, and that Bosna Bank International met the conditions for participation in this project for the second year in a row.

- We also cooperated on this project last year, and at that time, the Municipality of Stari Grad committed to paying the profit margin instead of the entrepreneurs, in the amount of 4.5 and 4%. This year, we are undertaking the same obligation, with the difference that BBI Bank has eased certain conditions when it comes to lending to our entrepreneurs. With the expansion of conditions and facilitations offered by BBI Bank this year, I hope that the interest of entrepreneurs will be much greater - said Hadžibajrić. He added that the Municipality is thus emphasizing economic development and striving to encourage the employment of new people. Although we cannot talk about thousands of new jobs, every new job is still a success.

The Executive Director of BBI Bank, Emir Čehajić, explained that, unlike last year, the bank now offers larger loan amounts, even up to 500,000 KM. BBI Bank has also provided larger funds for this purpose, with a total amount of 1,200,000 KM.

- We also offer some new facilitations - previously, for an amount of 50,000 KM, it was mandatory to employ one person, i.e., one new employee for every 50,000 KM. Now, depending on the maturity, one can take up to 100,000 KM for new employment. This is a model that BBI Bank is very interested in with other local self-governments in BiH, where the bank provides significant funds, and the municipality subsidizes the profit margin - said Čehajić.

This year, a Public Call will also be published so that as many entrepreneurs as possible are informed about this project, and it is believed that such a model will yield much better results and more interested parties.

Beneficiaries of this financing can be all business entities that have their headquarters and operate in the territory of the Municipality of Stari Grad and are 100% owned by citizens of BiH.