Belarus' Economy Ministry and the European Bank for Reconstruction and Development (EBRD) have signed a memorandum of understanding to implement the EU4Business project on ‘Supporting small and medium-sized enterprises as the main driving force for local and regional growth – advice for small businesses in Belarus’.
The BelTA news agency reported that the document was signed by Belarus Deputy Economy Minister Dmitry Krutoy and EBRD Managing Director for Eastern Europe and the Caucasus Francis Malige. The memorandum will help consolidate the agreements between the Economy Ministry and the EBRD on the implementation of the Advice for Small Business (ASB) programme funded by the European Union.
The Advice for Small Businesses in Belarus programme is funded by the European Union under the EU4Business initiative, and implemented by the EBRD. It is designed to provide advisory services and share know-how with SMEs in Belarus with the help of local and international advisers.
In particular, it aims to enhance the competitiveness of SMEs in Belarus operating across a wide range of sectors, with a focus on regional development, by increasing entrepreneurial skills, financial literacy, and the ability to adjust to markets within and outside Belarus. It increases the capacity of SMEs at the local/rayon level in order to increase the contribution of SMEs to the country’s economic growth.
