European Investment Bank launches new assistance programme for small-, medium-sized enterprises from Ukraine, Moldova, Georgia

13:00 | 11.02.2017 Category: Economic

Chisinau, 11 February /MOLDPRES/ - An EU-backed programme enabling the European Investment Bank (EIB) to support small and medium-sized enterprises (SMEs) in Ukraine and other countries that have signed an Association Agreement with the Union was launched in Kyiv today.

The EIB Group has joined forces with the EU’s Neighbourhood Investment Facility (NIF) to provide a comprehensive package of instruments designed to help companies in Ukraine, Moldova and Georgia make the most of the opportunities arising from the implementation of their free trade agreements with the EU, which involve the progressive removal of barriers to trade and the alignment of standards with those of the EU, according to a press release by the EU Delegation in Ukraine.

The EU contribution forms part of the European Commission’s wider EU4Business initiative, which brings together EU-funded programmes supporting SME development and improving the business environment in the Eastern Partnership region. The programme has the following components: EUR 2.8m for risk capital operations, EUR 7.8m for technical assistance and EUR 49.7m for guarantees through the EIB and the European Investment Fund.

The goal of the Association Agreement and the creation of the Deep and Comprehensive Free Trade Area is to help enhance the economic development through financial and technical support provided to small- and medium-sized enterprises (SMEs). Starting from 2016, all actions of the European Union, backing the small- and medium-sized enterprises from the Eastern Partnership, have been organized under the umbrella of EU4Business.

In last spring, the EU4Business Week took place in Moldova, which comprised a string of events meant to improve the business environment and develop the private sector. The www.eu4business.eu portal in December 2016 was officially launched in Moldova, to which a page was dedicated. Users have access to centralized information on everything which means EU assistance for SMEs.

(Reporter V. Bercu, editor L. Alcaza)

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