News/Press

Team Europe: EIB and ProCredit to support faster recovery of SMEs from COVID-19 in Georgia, Moldova and Ukraine with €55 million
Team Europe: EIB and ProCredit to support faster recovery of SMEs from COVID-19 in Georgia, Moldova and Ukraine with €55 million
21/12/2020
Luxembourg/Frankfurt, 21 December 2020 The EU bank and ProCredit are creating three credit lines worth €55 million to support the recovery of SMEs from the COVID-19 pandemic in Georgia, Moldova, Ukraine. Credit lines will be available at ProCredit Group in Georgia (€10 million), Moldova (€20 million) and Ukraine (€25 million). The operation is a part of the Team Europe’s COVID-19 emergency...
The EU supported 78,995 SMEs in the Eastern Partnership countries in 2019
23/11/2020
EU4Business has published the Citizens’ Summaries for the 6 EaP countries with the overview of major results of the past year in the region and per country. In 2019, 78,995 SMEs were supported through the EU4Business Initiative, generating an extra €1.3 billion in income and 117,254 new jobs, growing their turnover by 16.1%, and increasing their exports by 5.9% as a result. See the detailed...
Georgian SMEs master e-commerce skills to enter new markets
Georgia
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27/08/2020
The EU-funded Ready to Trade project , an EU4Business initiative, implemented by the International Trade Centre (ITC) , organized a webinar "Assistance to Georgian Companies on E-Commerce", for the project's beneficiaries. The objective of the virtual training was to offer SMEs the first insight on how they could access foreign markets by using digital and e-commerce channels. The session was led...
Georgia: Team Europe -The EIB`s lends EUR 10 million to Credo Bank under its Georgia Outreach Initiative to support MSMEs
The EIB lends EUR 10 million to Credo Bank under its Georgia Outreach Initiative to support MSMEs
Georgia
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03/08/2020
​ The European Investment Bank will lend EUR 10 million to Credo Bank, the leading actor on microfinance market in Georgia, and provide more affordable loans to country`s micro, small and medium enterprises (MSME), predominantly from the agriculture sector. This is the second loan granted under the EIB`s Georgia Outreach Initiative. Launched in December 2019 the Initiative improves financial...
Weekly Digest on Impact on SMEs in EAP (10 July)
10/07/2020
Armenia Armenia gets one-year customs tax break within the framework of the Eurasian Economic Union. Lower rates than the single EEU customs tariffs shall be applied in Armenia for more than 600 items of goods imported. https://bit.ly/2CgClbe Another nationwide lockdown may be imposed if Armenian hospitals are no longer able to cope with the continuing spread of the coronavirus. Prime Minister...
EIB Group and Bank of Georgia join forces to support businesses in Georgia to better deal with the consequences of the COVID-19 crisis
Georgia
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07/07/2020
EIB Group signed guarantee agreement supported by InnovFin SME Guarantee Facility enabling Bank of Georgia to provide up to €60 million in loans to SMEs The operation is expected to improve access to finance for over 100 businesses, particularly enterprises affected by the COVID-19 crisis This is the third operation of EIB Group’s InnovFin Guarantee Facility in Georgia The European Investment...
Weekly Digest on Impact on SMEs in EAP (July 3, 2020)
03/07/2020
Armenia VTB bank joins the governmental 3 rd assistance action programme aimed at mitigating the liquidity risk of SMEs to offset consequences of coronavirus pandemic jointly with the Ministry of Economy and the Investment Support Center. It enables small businesses to claim loans at 0% rate in the first 2 years, and 12% for the rest of the maturity period (the effective annual interest rate is 1...
Weekly Digest on Impact on SMEs in EAP (June 26, 2020)
26/06/2020
Armenia 820 SMEs have already received assistance from the Armenian government through its 3 rd action. Ministry of Economy suggests applying for preferential loans up to a maximum of 50mln AMD (more than US$ 104,500) by June 30, 2020. https://bit.ly/3i4QJnI 50,094 jobs restored in Armenia after coronavirus-related strict restrictions were lifted in May . Nikol Pashinyan, the Prime Minister of...
Modern solutions for the pandemic challenges in agrifood business
Modern solutions for the pandemic challenges in agrifood business
Georgia
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22/06/2020
United Fresh gathered thousands of fresh food buyers, exporters and producers from all over the world in an innovative virtual trade fair. United Fresh, a leading fruit and vegetable trade fair, assembles the fresh produce industry representatives every year for its annual gathering. Due to COVID-19, the United Fresh Produce Association decided to set in a virtual edition - United Fresh Live...
Fresh food producers from Africa and Eastern Europe take part in innovative virtual trade fair
Fresh food producers from Africa and Eastern Europe take part in innovative virtual trade fair
18/06/2020
ITC supported dozens of companies to participate in 2020’s entirely virtual United Fresh LIVE! trade fair Dozens of fresh produce companies trading in everything from avocados to hazelnuts from Africa and Eastern Europe have participated in a unique online edition of a leading fruit and vegetable trade fair. ITC experts assisted the companies in navigating the novel format of United Fresh LIVE!...