News/Press

COVID-19: Weekly Digest on Impact on SMEs in EAP (May 15)
15/05/2020
Armenia About 14,000 economic entities (93.3% of the potential beneficiaries) with 2 to 50 employees received a total of about 2.2 billion AMD (about US$ 4.5 million) as the result of the measure aimed at mitigating the economic circumstances of Covid-19, according to the State Revenue Committee. Read More 70.3 billion AMD (about US$ 145 million) was distributed through 17 actions of the...
COVID-19: Weekly Digest on Impact on SMEs in EAP (8 May)
08/05/2020
Armenia From May 4, 2020 vast majority of businesses including cafes and restaurants are allowed to resume their work exclusively in the open-air areas. There could be a return to the strict regime in case of aggravation of the situation. Read More Some 24,000 business entities have been already assisted by the Government of Armenia. Over 62 billion AMD (about US$ 128 million) had been provided...
COVID-19: Weekly Digest on Impact on SMEs in EAP (30 April)
24/04/2020
Armenia 167 loan applications from SMEs worth 1.6 billion AMD (about US$ 3.3 million) have been approved as of April 16, 2020. Under the effective job support measure for entities with 2-50 employees, another 1.2 billion AMD (about US$ 2.5 million) was disbursed as one-time grants. Read More The Asian Development Bank predicts 2.2% economic growth for Armenia , the World Bank keeps it lower – 1.7...
COVID-19: Weekly Digest on Impact on SMEs in EAP
17/04/2020
Armenia The Government reopened some sectors of the economy . While Armenia extended the state of emergency for another 30 days restricting movement of people, it relaxed some industries such as open-air construction and cigarette manufacturing. Read More The Armenian economy loses 51 million USD daily because of the coronavirus. During the first month of the state of emergency Armenia will lose...
EU4Business Weekly Digest of Reports on Economic Impact on SMEs in EAP
14/04/2020
Armenia The spread of coronavirus disease "due to anti-epidemic measures will significantly reduce Armenia's economic growth in 2020," the CB analysts said. In 2020, economic growth will be 0.7% and will recover in 2021, reaching 7.2%. https://bit.ly/civilnet-am Coronavirus caused $134 million damage to the tourism industry of Armenia in the first quarter of 2020. The State Tourism Committee...
New “Eastern Partnership Trade Helpdesk” Project by ITC Extends EU4Business Portfolio
13/02/2020
The Eastern Partnership (EaP) Trade Helpdesk, a new EU4Business project implemented by the International Trade Centre (ITC), a joint agency of the United Nations and the World Trade Organization, was launched in late 2019. The 5 year long initiative aims to increase economic ties between the EU and the EaP countries (Armenia, Azerbaijan, Belarus, Georgia, Moldova, Ukraine). The project will:...
New EU4Business Project to Connect Companies in the Eastern Partnership countries with EU
06/02/2020
“EU4Business: Connecting Companies” is the name of an ambitious new action funded under the EU4Business initiative of the European Union and managed by EUROCHAMBRES . The main aim is to promote trade between the EU Member States & the 6 Eastern Partnership (EaP) countries: Armenia, Azerbaijan, Belarus, Georgia, Moldova & Ukraine. The “EU4Business: Connecting Companies” project is expected...
EBRD and EU support new tool to boost agricultural lending in Azerbaijan
Azerbaijan
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20/09/2019
New tool to help boost agricultural lending in Azerbaijan AzALES allows better risk assessment and faster processing of loan applications Innovation to support agricultural producers with access to finance Banks in Azerbaijan are expected to increase their capacity to lend to local farmers and agricultural firms thanks to a new, innovative tool to evaluate loans in the sector. The Azerbaijan...
EU4Business General Assembly: looking back on a decade of achievements and forward to the challenges ahead
EU4Business General Assembly: looking back on a decade of achievements and forward to the challenges ahead
24/07/2019
The third meeting of the EU4Business General Assembly took place on 28 June 2019 in Brussels, and marked the 10th anniversary of the EU4Business Initiative. During this high-level event, the EU4Business Secretariat shared the results achieved during the last decade, as well as the progress made specifically in 2018. The 2019 General Assembly provided a unique opportunity for 83 participants,...
The OECD held in Baku the SBA Public-Private Reconciliation meeting on 16 May 2019.
Assessing the SME business environment in Azerbaijan
Azerbaijan
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27/05/2019
On 16 May, the OECD held a meeting in the Azerbaijani capital Baku to discuss the 2020 Small Business Act for Europe (SBA) Assessment, organised in the framework of the EU-funded project ‘ EU4Business: From Policies to Action ’. The Small Business Act for Europe (SBA) is an overarching framework for EU policy on SMEs. It aims to improve the approach to entrepreneurship in Europe, simplify the...