The UK-based European Bank for Reconstruction and Development (EBRD), the EU and the European Investment Advisory Hub recently created a program to provide technical assistance to 240 small and medium-sized enterprises (SMEs) in Bulgaria, Greece and Romania. The services, which encompass areas such as financial management, strategy, trade promotion, energy efficiency and marketing, are available to companies with fewer than 250 employees.
The European Investment Advisory Hub was developed by the EU’s European Investment Bank and the EU’s European Commission to support investment in projects expected to stimulate economic growth in Europe.
EBRD was founded in 1991 and has 65 shareholding countries as of 2017. With a focus on “the promotion of private and entrepreneurial initiative” in Eastern Europe, Central Asia, Northern Africa and the Middle East, it invested EUR 9.4 billion (USD 10.1 billion) in companies in 30 countries during 2016.
Sources and Additional Resources
MICROCAPITAL BRIEF: EBRD Loans Local-currency Totalling $10m to Araratbank of Armenia, Targeting Women-owned Rural SMEs
European Investment Bank
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