News/Press

COVID-19: Weekly Digest on Impact on SMEs in EAP (August 7, 2020)
07/08/2020
Armenia 2.6 billion AMD (about $5.4 million) was provided to about 13,000 beneficiaries under the 21st programme of the Armenian government to offset the socio-economic consequences of the coronavirus. About 96% of the private companies submitted applications for preserving their jobs during the Covid-19 pandemic. Read more The government of Armenia is developing a special support package for the...
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...
COVID-19: Weekly Digest on Impact on SMEs in EAP (July 31, 2020)
31/07/2020
Armenia According to the Statistical Committee, the economic activity of Armenia in the first half of 2020 decreased by 4.7% per annum , while in June 2020 alone, economic activity increased by 14.8%, after growing by 13.3% in May and against growth by 8.2% in June 2019. Read more Over 37% of hotels had to cut their staff, and another 53% also plan to reduce staff in the future. According to a...
EBRD and EU unlock fresh funding for SMEs in Moldova
EBRD and EU unlock fresh funding for SMEs in Moldova
Moldova
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30/07/2020
Small and medium-sized enterprises (SMEs) in Moldova are to benefit from greater access to finance as the EBRD and the European Union unlock fresh funding. The EBRD is providing an additional €5 million loan to Mobiasbanca-OTP Group for on-lending supported by EU grants under the EU4Business-EBRD credit line . The new loan to Mobiasbanca complements two previous ones of €10 million and €20...
COVID-19: Weekly Digest on Impact on SMEs in EAP (July 24, 2020)
24/07/2020
Armenia SMEs in tourism sector may keep the tickets for the museums and national parks bought in advance as they will be valid until the end of 2021. Arayik Harutyunyan, the Minister of Education, Science, Culture and Sport announced that tickets unused due to Covid-19 will be valid during the whole 2021. Read more The restaurant business in Armenia is about to collapse. According to the...
European Union’s EU4Business Initiative Helps Armenian Fashion Industry Overcome COVID-19 Challenges
European Union’s EU4Business Initiative Helps Armenian Fashion Industry Overcome COVID-19 Challenges
Armenia
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21/07/2020
Since the Soviet times Armenia was noted for its textile industry. Armenia's second largest city - Gyumri, home to a big textile factory - had a whole district called "Textile". These days, fashion, with its major potential, is becoming a force of its own along with the textile industry. The EU-funded Eastern Partnership: Ready to Trade EU4Business initiative supports the development and exports...
COVID-19: Weekly Digest on Impact on SMEs in EAP (17 July)
17/07/2020
Armenia Kim Kardashian joins the fundraising to support SMEs in Armenia, organised by the Support Armenia Fund in cooperation with the Ministry of Economy of Armenia. About 900 business entities have already received assistance under the third anti-crisis program aimed at supporting small and medium-sized businesses, according to the Minister of Economy Tigran Khachatryan. Read more The...
EU provides €105 million to Ukraine to support SMEs, small farms and implementation of reforms
EU provides €105 million to Ukraine to support SMEs, small farms and implementation of reforms
Ukraine
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16/07/2020
Three new financing agreements between the European Union and Ukraine were signed on 13 July, in a €105 million package to support Ukrainian small and medium-sized enterprises (SMEs), agriculture and small farm development and Ukrainian public authorities in the implementation of key reforms. These programmes will also contribute to the mitigation of the socioeconomic impact of COVID-19 and...
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...