News/Press

Ukraine’s SME Strategy 2020 seeks to facilitate access to finance for the country’s many small and medium-sized companies.
Ukraine approves SME development strategy up to 2020
Ukraine
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07/06/2017
The Ukrainian Government has approved a new strategy to boost SME development and open up access to finance. The Development of Small and Medium-sized Entrepreneurship in Ukraine Strategy (SME Strategy 2020) aims to increase the contribution of SMEs to the national GDP to 60.5% by 2020 , from 59% in 2015. It embraces the principles of the Small Business Act for Europe and recommendations of the...
Young person working in kitchen © EU
Successful Start project to help young entrepreneurs in Armenian provinces
Armenia
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05/06/2017
EU4Business has launched a new project in three Armenian provinces – Lori, Syunik and Armavir – to train young people in growing their start-ups. Successful Start, launched in May by the Small and Medium Entrepreneurship Development National Center (SME DNC) in Armenia , will help scores of budding entrepreneurs establish viable companies by developing their business skills and helping them...
Conference participants © European Union
Lack of skills and inability to access new markets amongst challenges faced by SMEs in Eastern Partnership countries
01/06/2017
Internationalisation and skills needs are two of the biggest challenges facing SMEs in Eastern Partnership (EaP) countries, the 17 th Meeting of the Platform 2 on Economic Convergence with EU Policies heard in Brussels on 18 May 2017. Platform 2 works to improve economic integration between EaP countries and the EU and help EaP countries align with relevant EU policies to improve their business...
Participants at the EU4Business first General Assembly, 17 May 2017
EUR 1.5 billion of loans supported almost 100 000 SMEs under EU4Business initiative, 1st General Assembly hears
24/05/2017
The 1st General Assembly meeting of the EU4Business initiative took place on 17 May in Brussels. It brought together over 80 representatives from the six Eastern Partner countries, country missions to the EU, implementing partners (EBRD, EIB, OECD, World Bank, GIZ, KfW, GFA, Eurochambres, ITC, IKZ, EBA) and European Institutions. Discussions focused on key achievements and the way forward for...
Participants at the SME Academy on Access to EU Markets, from 10-12 May, heard that 65% of Moldovan exports are now reaching EU countries.
Success of SME Academy on EU market access in Moldova
Moldova
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19/05/2017
65% of exports from Moldova are now reaching EU markets, the vice-chair of the country’s chamber of commerce and industry told an SME training academy in May. 35 representatives of SMEs attended a three-day academy in Chisinau, organised under the EU4Business East Invest 2 project in cooperation with the Moldova Chamber of Commerce and Industry from 10-12 May. Mihail Bîlba, vice-chair of the...
Participants at the high-level conference celebrating the 10th anniversary of ODIMM, the Moldovan SME development organisation.
Thousands of jobs created in SME sector in Moldova over past decade
Moldova
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19/05/2017
Some 3,700 jobs have been created by SMEs in Moldova over the past decade, while around 2,500 companies have benefited from financial support, a conference in Chisinau heard on 17 May. ODIMM , the Moldovan Small and Medium-sized Enterprise Sector Development Organisation, celebrated a decade of working for SMEs in the country at a high-level conference at the Republican Palace. Over 100 people...
Man pushing button of network of people © Thinkstock
Successful exchange scheme for Business Support Organisations extended
16/05/2017
Training visits to the EU for representatives of Business Support Organisations (BSOs) from the Eastern Partnership (EaP) countries (Armenia, Azerbaijan, Belarus, Georgia, Moldova, Ukraine) are extended following the success of visits over the past year. BSO reps from the EaP countries have been undergoing training at their EU counterparts since August 2016. Meanwhile, EU experts have also been...
Armenian business people at the Armenia-Turkey Investor Day ©EU
SMEs and start-ups learn how to attract funding during EU Investment Week in Armenia
16/05/2017
The financing of SMEs and start-ups in Armenia was the theme of an EU Investment Week held from 2 to 5 May.The week kicked off with the EU4Business SMEDA (Support to SME Development in Armenia) project organising visits to start-ups and innovative companies on 2 May. Armenia-Turkey Investor Day An Armenia-Turkey Investor Day was also held on the first day, promoting links between start-ups and...
USD 100m to help Georgian SMEs meet EU Standards
11/05/2017
The EBRD, EU and TBC Bank signed an agreement on 2 May to provide loans to help Georgian SMEs improve their products and services to compete in the Deep and Comprehensive Free Trade Area (DCFTA) set up by Georgia and the EU. The agreement covers loans of USD 100 million in local currency (lari) , organised as follows: USD 60 million to help SMEs to comply with the requirements of the DCFTA ; USD...
The EIB launched two new programmes to boost private sector development in Georgia at a seminar in Tbilisi on 8 May: DCFTA Initiative East and InnovFin.
EIB introduces new financial support for SMEs in Georgia
Georgia
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09/05/2017
The European Investment Bank has launched two new programmes, developed jointly with the European Commission, to help private sector development in Georgia. It presented the programmes - DCFTA Initiative East (part of the wider EU4Business initiative) and InnovFin (EU Finance for Innovators) – at a high-level seminar under the EU4Business initiative in Tbilisi on 8 May. The event attracted around...