Contract between AS Holding and Austrian Development Bank: Opening 330 new jobs

SARAJEVO, (Patria) – Through the service of finding strategic and financial partners, we strive to provide clients with new sources of financing and exceed their expectations in the sphere of improved services whenever possible. We want to be a reliable partner and financial advisor to our clients. We are extremely pleased that the Austrian Development Bank recognized the quality of AS Holding, which has thus been enabled to grow and develop production, exports, and create more than 330 new jobs, stated Karlheinz Dobnigg, Chairman of the Management Board of Raiffeisen Bank, adding: „This cooperation between Raiffeisen Bank and the Austrian Development Bank has indeed been successful in the past period and was very positively received by our clients.“

By signing the contract between the Austrian Development Bank and AS Holding, which was held at the Bank's premises, the successful joint cooperation between Raiffeisen and the Austrian Development Bank on the targeted selection of clients and investment projects on the BiH market continued.

„Having met the strict criteria of financial nature, credibility, sustainability, and authenticity of our business plans, with today's signing of the Contract we received a significant reference from the Austrian Development Bank. This recognizes and confirms our previous work and operations as a strong and stable private company. Also, this Contract secured funds for investment in new production facilities, new technologies, and employment, with a clear perspective of exports primarily to the EU market. AC Food as a company gains new value with a vision of further expanding its product range in line with the highest European and world standards. AS Holding is one step closer to the goal of entering the top five food industries in the region. Committed to the development of the Bosnian-Herzegovinian food industry, we are deeply aware of the challenges of producing healthy and quality food, but also of the real prospects focused on significant growth and development of our company with even better results“, stated Rusmir Hrvić, Chairman of the Management Board of AS Holding.

The credit development line of the Austrian Development Bank is intended for investment projects, investments in expanding production that result in growth in the number of employees and exports, and improvement of environmental conditions, production standards, and energy efficiency.

„We look forward to having the opportunity to cooperate with AS Holding and support their operations in modernizing and expanding production lines. Our investment will enable the company's growth, which will create hundreds of new jobs and contribute to strengthening the local industry and economy“, stated Sabine Gaber, Member of the Executive Board of the Austrian Development Bank.

The investment of the Austrian Development Bank in BiH represents a significant foundation for the development and strengthening of the BiH economy, society, and sustainable economic growth.