News/Press

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 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...
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 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...
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...
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
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
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!...
Armenia Armenia is unlikely to have 2020 tourism season, Armenian Tourism Association states. “Keeping the positions for 3 months, the tourism sector gives up by cutting the staff”, reads the statement raising the issue of Armenia’s land border with Georgia staying closed. Read More Face masks in Yerevan available from self-service machines. A joint effort of “Tavish textiles”, Tavish region-...
Armenia 8,923 beneficiaries received a total of 1.7 billion AMD (more than US$ 3.5 million) from the Armenian government within the 18th measure aiming to pay every fifth employee’s salary to those employers and companies that have saved their jobs and payroll amount during the Covid-19 pandemic. Read More 19th measure to neutralize Covid-19 economic consequences in Armenia is to assist the...