The European Bank for Reconstruction and Development (EBRD) and the European Union (EU) are extending their support to small and medium-sized enterprises (SMEs) in Georgia, Moldova and Ukraine to 1.15 billion euro, the EBRD has said in a press release.
A total of almost 1.1 billion euro is provided in credit lines and trade finance under the EU4Business programme and 58.3 million euro in EU grants.
The first phase of the SME program foresaw 380 million euro financing by the EBRD and 19.4 euro of EU grants.
“We are pleased to announce the extension of our successful programme of access to finance supporting reforms important for the Deep and Comprehensive Free Trade Area to function. The EU4Business-EBRD Credit line has allowed SMEs in sectors such as manufacturing, retail, agriculture and food processing, transport, services and healthcare to improve their products, strengthen their export potential and adopt EU standards and technical norms,” Deputy Director-General for Neighbourhood Policy and Enlargement Negotiations of the European Commission Katarína Mathernová said at a high-level conference in Tbilisi on March 21.
As reported, the EBRD in 2017 invested 800 million euro in Ukraine, which is 37 percent more than a year ago.
