News/Press

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...
Today, when all around the world people are practicing self-isolation and social distancing, some small businesses are doing their best to re-arrange their operations. Some do so successfully with tools made available with help from the EBRD and EU4Business. The case in point is supermarket Georgita in Tbilisi, Georgia . The company started its operations in 2001. Over the years, it opened two...
EBRD and EU4Business help local poultry farm Chirina boost its capacity Early February now seems a lifetime ago, but back then, a chicken farm in Georgia was preparing for a new milestone: Chirina was adding 14 new turnkey broiler farmhouses to i ncrease production by 50 per cent , calling for a grand celebration. A little help from friends, including the EBRD and EU4Business, contributed to the...
Small and medium-sized enterprises in western Ukraine will benefit from a new loan of up to €7.5 million to Bank Lviv provided under the EU4Business-EBRD Credit Line. The loan will be available for disbursement in Ukrainian Hryvna, which will protect Bank Lviv’s borrowers from foreign currency-related risks, and offer long maturities. The funds are provided in the context of the Deep and...
As part of the global response to the coronavirus outbreak, the European Commission stands by Eastern partner countries and has reallocated €140 million for the most immediate needs in Armenia, Azerbaijan, Belarus, Georgia, the Republic of Moldova, and Ukraine . In addition, the Commission will also redirect the use of existing instruments worth up to €700 million to help mitigate the socio-...
A project by EU4Business and German Government helped Georgian startup company, Doctor Goods, manufacture 40,000 medical gowns in a week to address the COVID-19 pandemic. Georgian producer of medical textiles, Doctor Goods, was able to produce 40,000 medical gowns in a week after 12 additional sewing machines were purchased with support from the EU4Business Initiative of the European Union and...
About this initiative The evaluation will examine the costs and benefits of the EU’s “Deep and Comprehensive Free Trade Area Agreements” with Georgia and Moldova. These are part of the Association Agreement each country has with the EU. The study will assess the impact these trade agreements have had on trade and the economy, society at large, workers, human rights and the environment in each...
Ukrainian apparel companies got expert recommendations on how to improve their wholesale technologies
On 9-13 March 2020, as part of the EU4Business ‘Ready to Trade’ project, the International Trade Centre in cooperation with the association “Ukrlegprom” organized training for 20 Ukrainian apparel companies and two state-owned specialized educational institutions. Participants from 15 regions of Ukraine, including owners and top managers, gathered together in Rivne to get acquainted with best...