The European Union (EU) has committed an additional EUR 5 million (USD 6.9 million) to the UK-based European Bank for Reconstruction and Development (EBRD) for its “TurnAround Management” (TAM) and “Business Advisory Service” (BAS) programs in the Eastern Partnership region [1].
The Eastern Partnership region was designated in 2009 by the EU to include Armenia, Azerbaijan, Belarus, Georgia, Moldova and Ukraine. The new funding brings the EU’s commitment to TAM and BAS to a total of EUR 10 million (USD 13.8 million) for the period 2010 through 2013.
TAM and BAS were developed by EBRD to provide micro-, small and medium-sized businesses with technical assistance and business advice in an effort to allow enterprises operating in formerly state-run economies to adapt to free-market competition.
EBRD will also work with local governments and regional chambers of commerce to identify and facilitate areas of greater economic and financial cooperation across national borders. At present, there are TAM and BAS programs operating in 22 countries, involving approximately EUR 115 million (USD 158.4 million) in donor funds.
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Sources and Additional Resources:
[1] Sergiy Grytsenko “EU SUPPORTS EBRD SMALL BUSINESS PROGRAMMES IN THE EASTERN PARTNERSHIP REGION”http://www.ebrd.com/pages/news/press/2011/110609.shtml
MicroCapital.org story, 18 Oct 2011. “MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) to Loan Equivalent of $2m in Local Currency to Frontiers Microlending to On-Lend to Microfinance Institutions in Kyrgyzstan, Tajikistan, Kazakhstan”,https://www.microcapital.org/microcapital-brief-european-bank-for-reconst…
MicroCapital.org story, 18 Oct 2011. “MICROCAPITAL BRIEF: European Bank for Reconstruction and Development Lends $3m to Araratbank of Armenia for Micro-, Small and Medium-Sized Enterprises, Microfinance”, https://www.microcapital.org/microcapital-brief-european-bank-for-reconst…
MicroCapital.org story, 15 Oct 2011. “MICROCAPITAL BRIEF: Triodos Invests in Microfinance Institutions (MFIs) Advans Ghana, KixiCrédito of Angola, TYM Fund of Vietnam, Belarusian Bank for Small Business”, https://www.microcapital.org/microcapital-brief-triodos-invests-in-microf…
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