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 EUR 1.15 billion, the EBRD has said in a press release.
A total of almost EUR 1.1 billion is provided in credit lines and trade finance under the EU4Business programme and EUR 58.3 million in EU grants.
The first phase of the SME program foresaw EUR 380 million financing by the EBRD and EUR 19.4 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 health care 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 Wednesday.
As reported, the EBRD in 2017 invested EUR 800 million in Ukraine, which is 37% more than a year ago.
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