Armenia
- The state of emergency in Armenia is extended for 30 days till June 13, while financial and economic activities can be undertaken under specific conditions. Read More
- A total of 84.4 billion AMD (about US$ 175 million) have been distributed by the government as of May 16, 2020 to 48,400 legal entities and more than 1 million individuals. With the 3rd measure dedicated to SMEs, the Armenian government has subsidized loans worth 8.3 billion AMD (about US$ 17 million) to 744 economic entities. Read More
- The Armenian government will provide support for starting new businesses in the field of production and services outside Yerevan. The Investment Support Center will assess and support startups. Read More
- According to the 18th anti-crisis measure adopted by the Armenian government on May 14, 2020, the government will pay a grant in the amount of the salary of every fifth employee to companies with up to 100 employees that have retained their jobs since the Covid-19 crisis began. Read More
Azerbaijan
- The volume of loan restructuring applications reached nearly 550 million AZN ($321.5 million), according to the Head of Central Bank Elman Rustamov. About 91% of all applications were for business loans, 4% – for consumer loans, 5% – for mortgage loans. Over 37% of applications, totalling 200 million AZN ($116 million) have been considered further for funding. Read More
- Standards and instructions for the activities of hotels and recreation centres during pandemic have been prepared. All rules and instructions can be found on the website www.coronavirusinfo.az. Read More
- Special quarantine regime was eased in Azerbaijan from May 18. People are no longer obliged to obtain permissions to leave their houses. Restaurants, cafes, tea houses, all catering facilities, except for hookah-bars, have resumed operation. Shopping centres are still restricted. Ban on mass events, sports and health services is still in force, as well as a ban for entry to and exit from the territory of Azerbaijan by vehicles and planes, except for cargo transportation. Some restrictions, regarding movement within the country, were also left untouched. Read More
Belarus
- Since May 20, the National Bank has reduced the refinancing rate to the lowest historical level: from 8.75% to 8% per annum. According to the regulator, this will ease the loan debt burden, allow enterprises to recover from the crisis, and support investments. Read More
- The President signed the decree giving the right to businesses to gradually transfer the exchange differences for the period from January 1, 2020 to December 31, 2022 to the current financial result. Considering the unstable exchange rate for the national currency, this is a sound support measure. Read More
- Transport industry suffers losses. In January-April 2020, enterprises transported 122.3 million tons of cargo, which is 10.1% less than in the same period last year. Passenger transport services were used by 591 million people (minus 10.7%). Read More
- In mid-May, 48.5% of the population felt a decline in their incomes (in March it was 45%, and in April 52%). The main reasons are the decreased number of orders (35% of those, whose income fell), reduced salaries (27%), cancelled bonuses (22%) and lost side work (17%). Every fourth experienced reduction in working hours (in April there were only 17%), and every fifth had an unpaid leave (in April 16%). Read More
- According to Bitrix24 study, 77.1% of Belarusian companies (mainly small businesses) switched fully or partially to remote work in May. 73.6% of respondents reported that labour productivity increased or remained at the same level. Read More
Georgia
- TBC Capital names tourism, real estate and auto industry the most vulnerable sectors affected by the pandemic, with the expected decrease by 85% and 35% in revenues of hotels and residential real estate sector in 2020 respectively. Read More
- Government of Georgia supports SME production by exempting 42,000 farmers from paying irrigation taxes in 2020. Farmers can apply to receive 50% state financing to purchase special agricultural equipment, also to receive 150 litres of diesel fuel per hectare in 2020, costing GEL 1 (about $0.3) less compared to the market price. Read More
- Government of Georgia supports farmers having land plots between 0.25 to 10 hectares by granting 200 GEL (about $62) for each hectare. About 200,000 farmers will receive these grants, with the total anti-crisis program budget of 27 million GEL ($8.3 million). Read More
The Republic of Moldova
- Hotels, restaurants, and cafes (HoReCA) in the Republic of Moldova may resume their activity starting from June 1, if the virus spread remains at a relatively low level. Read More
- Many companies have gone bankrupt due to the current situation. In this context, small businesses are promoted online by the “Go Online Moldova” platform. Since it was created, 175 small entrepreneurs from all over the country have used the services. Read More
- The tourism sector has been affected more than others by the current COVID-19 pandemic. In this regard, the Moldovan Investment Agency launched the online campaign #NeamPornit. The initiative aims to support domestic tourism, promote Moldova as an authentic and unexplored travel destination, stimulate the creation of new tourist offers and increase the consumption of local products. Read More
- Wine industry, the largest generator of jobs in rural areas, has been hit hard by COVID-19 pandemic. Therefore, the National Office of Vine and Wine has launched the first wine tourism guide in Moldova. Accompanied by the hashtag #Revincudrag, the campaign aims to popularize wine tourism in the country to attract as many visitors as possible. Read More
- 128 young people will receive state grants to start their own businesses. From the total number of investment projects accepted for financing, 66 businesses are created and managed by women, and 11 – by disadvantaged young people. Over 75% of the businesses created will operate in rural areas. The most active localities are Chisinau, ATU Gagauzia, Sangerei, Rascani, Soroca, Orhei, Ungheni, Causeni and Stefan - Voda. Read More
Ukraine
- Economic disruption caused by the fight against coronavirus will add 6 to 9 million people to the population of poor people in Ukraine, estimates UNICEF. This year, the portion of Ukrainians living in poverty will increase from 27% to 43-51%. Read More
- Government resumes operation of non-food markets – they will have to fully comply with sanitary and epidemiological safety measures. Read More
- SUP, the business association for SME owners, has launched the HoReCa Committee to support the industry during the COVID-19 crisis. The first goal is to ensure sound exit from the quarantine. Further goals include support in tax, employment, state control and other issues. Read More
- Business Ombudsman Council in Ukraine received 12% more complaints from Ukrainian business against government agencies despite the overall decline in activity due to COVID-19 crisis. Most of the claims relate to taxation (58%), law enforcement (11%), local authorities (7%), state regulators (4%), and customs (4%). Entrepreneurs turned to the Council with new challenges related to the lockdown impact on business: ban on medical products re-export, refusal to register a taxpayer, ungrounded orders on closing shops and ban on online training. Read More
EU4BUSINESS UPDATES
Ukraine
When rivals become partners: 1 million masks, 12,000 protective outfits, 60 days
Three Western Ukrainian participants in a cluster development programme supported by the EBRD and the EU4Business initiative re-oriented production to help with the pandemic—and saved jobs, too. Read More
Armenia
More innovative ventures for tech and startup SMEs to be engaged and become global players will be offered through this project. Read More
Belarus
Belarus SMEs contribute to coronavirus pandemic fight
Socially responsible businesses are helping the state to contain the outbreak and do whatever they can to fight this dangerous enemy. Read More
Georgia
EU and UNDP provide protective gear to front-line medical personnel in Georgia
7,500 protective face shields distributed to ambulance and emergency crews of the Emergency Situations Coordination and Urgent Assistance Center. Read More
Armenia
EU supports Armenian farmers during COVID-19 crisis
EU delivered 11 two-wheel tractors to the Armenian province of Shirak to help vulnerable producers in the region during the COVID-19 crisis. Read More
