EU plans to al­lo­cate 6m to sup­port SMES in Be­larus in next four years

Economy of Belarus - - MACROECONOMICS -

The Euro­pean Union plans to al­lo­cate 6 mil­lion for the devel­op­ment of small and medi­um­sized pri­vate en­ter­prises (SMES) in the next four years, Head of the Euro­pean Union Del­e­ga­tion to Be­larus An­drea Wik­torin said at the press con­fer­ence held to mark five years of work of EBRD’S Small Busi­ness Sup­port team in Be­larus.

The EBRD Small Busi­ness Ini­tia­tive has yielded good re­sults. There­fore, the Euro­pean Union plans to con­tinue par­tic­i­pa­tion and al­lo­cate 6 mil­lion for the devel­op­ment of small and medi­um­sized pri­vate en­ter­prises in the next four years, An­drea Wik­torin said.

The head of the EU Del­e­ga­tion em­pha­sized that small and medi­um­sized busi­nesses are the bedrock of eco­nomic devel­op­ment of any coun­try. When asked which SME projects the Euro­pean Union is ready to fi­nance in the next few years, An­drea Wik­torin noted that plan­ning is in progress now. “But we would like to sup­port the in­no­va­tive fledg­ling com­pa­nies, small en­ter­prises. We are also go­ing to sup­port women who are en­gaged in busi­ness. A very good project ‘Women in Busi­ness’ has been launched this year,” she said.

The EBRD Small Busi­ness Ini­tia­tive has turned five years. Since 2011, the Bank has sup­ported 250 small and medium-sized pri­vate en­ter­prises. They re­ceived 3.2 mil­lion in donor funds. The pro­gram has helped cre­ate more than 1,500 jobs.

The EBRD Small Busi­ness Ini­tia­tive is funded by grants pro­vided by the EU as a key donor as part of the Eu4busi­ness ini­tia­tive and also Swe­den, the Early Tran­si­tion Coun­tries (ETC) Fund, the Tai­wan­busi­ness-ebrd Tech­ni­cal Co­op­er­a­tion Fund and the EBRD Share­holder Spe­cial Fund. The pro­gram has made a tan­gi­ble con­tri­bu­tion to the devel­op­ment the Be­laru­sian mar­ket of con­sult­ing ser­vices.

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