News/Press

EU provides UAH 123.5 mln to entrepreneurs from Donbas under EU4Business FinancEast programme
The EU-funded FinancEast programme has announced the results of first four months of its operation. From December 2019 to April 2020, the European Union provided UAH 123.5 million in subsidies and compensation to micro, small and medium-sized enterprises (MSMEs) in the government-controlled territories of Donetsk and Luhansk regions. The programme provides for the reimbursement of up to 50% of...
Armenia 167 loan applications from SMEs worth 1.6 billion AMD (about US$ 3.3 million) have been approved as of April 16, 2020. Under the effective job support measure for entities with 2-50 employees, another 1.2 billion AMD (about US$ 2.5 million) was disbursed as one-time grants. Read More The Asian Development Bank predicts 2.2% economic growth for Armenia , the World Bank keeps it lower – 1.7...
On April 16, 2020, International Trade Centre's Eastern Partnership: Ready to Trade project organized an online workshop – "EU export marketing customer communication and preparing for the recovery from COVID19” - for their beneficiary companies. The workshop was conducted by James Fitzpatrick, an expert in trading, importing and developing supply chains globally. Twelve Eastern Partnership:...
Since March 2020, entrepreneurs can learn at online-events of the Business Information Support Centers (BISCs) and the Merezha online platform. Business Information Support Centers have already reoriented 10 out of 40 planned events to the online format: Management effectiveness program for medical centers; Sectoral Program of Business management in the health and beauty industry; Training "...
A new OECD report on small and medium-sized enterprises (SMEs) policies in the six countries of the European Union’s Eastern Partnership (EaP) finds that recent years have seen substantial progress in creating better conditions for SMEs but that governments can do more to create a competitive level playing field for firms of all sizes. Anti-corruption, competitive neutrality and better monitoring...
Santa Ukraina swiftly switches manufacturing following EBRD and EU support Hundreds of fashionable dresses, blouses and skirts are the garments that textile producer Santa Ukraina usually manufactures and ships to European retail brands every day. But the coronavirus has transformed its work: “We realised very quickly that now was the time to act,” explains Evhen Dyrdin , CEO of Santa Ukraina. “...
Armenia The Government reopened some sectors of the economy . While Armenia extended the state of emergency for another 30 days restricting movement of people, it relaxed some industries such as open-air construction and cigarette manufacturing. Read More The Armenian economy loses 51 million USD daily because of the coronavirus. During the first month of the state of emergency Armenia will lose...
Armenia The spread of coronavirus disease "due to anti-epidemic measures will significantly reduce Armenia's economic growth in 2020," the CB analysts said. In 2020, economic growth will be 0.7% and will recover in 2021, reaching 7.2%. https://bit.ly/civilnet-am Coronavirus caused $134 million damage to the tourism industry of Armenia in the first quarter of 2020. The State Tourism Committee...
Up to 100 Georgian SMEs are now in a better position to take advantage of the benefits that the free trade agreement between the EU and Georgia provides via joining business clusters. With support from the EU4Business Initiative of the European Union SME Development and DCFTA in Georgia Project supported establishment of three business clusters in Georgia and laid a groundwork for the other two,...
The outbreak of the Covid-19 crisis on public health in the six EU Eastern Partner (EaP) countries remains limited to date, yet containment and social distancing measures have had a significant economic impact, particularly on small and medium-sized enterprises (SMEs). The OECD estimates that the decline in the level of economic output is equivalent to a decline in annual GDP growth of up to 2...