News/Press

The EU is to provide a further €6 million for the development of SMEs in Belarus over the next four years – with a special emphasis on innovative startups and women in business . “We would like to support innovative fledgling companies and small enterprises, and women who are engaged in business under the very good Women in Business project launched this year,” said Andrea Wiktorin, Head of the...
A new USD 100 million financing package organised under the EU4Business programme will enable the European Bank for Reconstruction and Development (EBRD) to provide further support to Georgian SMEs. The funding, in the national Lari currency, will be fed through TBC Bank , one of Georgia’s major financial entities. USD 60m of the amount is designed to help SMEs comply with the requirements of the...
The Moldovan Government is establishing a Consultative Council for the development of SMEs in the country. The new structure will operate under the Ministry of Economy and act as a platform for effective dialogue between entrepreneurs and government departments. The council, set up under a new law for SMEs adopted in the last quarter of 2016, will study the problems of small and medium-sized...
An EU-backed programme enabling the European Investment Bank to further enhance its support to SMEs in Ukraine and other Eastern Partnership countries was launched at a conference in Kiev on 10 February. The goal of the Deep and Comprehensive Free Trade Agreement (DCFTA) Initiative East programme is to strengthen economic development in the target countries by providing financial and technical...
The Science and Technology Entrepreneurship (STEP) programme has launched a new funding cycle to provide tech start-ups with money to get their products to market and create new ventures. STEP funds teams of scientists, researchers, engineers working in fields like Biotech, CleanTech and engineering. Those that receive grants will get: Access to seed funding Mentoring and network opportunities...
Video of press conference
New grants are now available to Armenian SMEs through the project ‘ Support to SME Development in Armenia’ ( SMEDA). Co-financing is available in under two strands of SMEDA: Innovation Matching Grant (IMG). Grants of €30 000-€50 000 Science and Technology Entrepreneurship (STEP) . Grants of €15 000 Companies must be SMEs working in the technology sector (for example in engineering, Cleantech or...
Global competitiveness key for Georgian SMEs
A new financial package from the European Union is bringing new opportunities for Georgian SMEs and supporting their operations abroad The EBRD has allocated a USD 50 million credit facility in the Georgian national currency, the lari, to Bank of Georgia. The financial package is to help local SMEs invest in improvements to product quality and modernise their services to meet EU standards, said...
New law on SMEs enters force
Moldova
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Approved by the Moldovan Parliament, it defines a new legal framework for SMEs in Moldova and includes measures to stimulate the sustainable development of the sector The new legislation, approved by the Parliament and published in the Official Gazette, will come into force in the last quarter of 2016. It replaces the current law on development of the SME sector, defining a new legal framework...
Improving SME regulations in Ukraine
Ukraine
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The FORBIZ project focuses on improving the regulatory framework for SMEs in Ukraine and strengthening government-private sector dialogue Ukraine’s Ministry of Economic Development and Trade and the EU Delegation to Ukraine have launched FORBIZ, a leading business support project in the framework of the EU4Business initiative funded by the EU. FORBIZ focuses on three areas: improving regulatory...
€50 m financing for innovative companies
The EIF has signed an agreement with ProCredit Bank in Ukraine to finance innovative companies to the tune of €50 million The European Investment Fund and JSC “ProCredit Bank” have signed the first agreement in the framework of the project “InnovFin” (EU finance for innovators) – an initiative supported by the European Commission, aimed at raising funds for the development of innovative projects...