The European Bank for Reconstruction and Development (EBRD), a multilateral financial institution headquartered in the UK, has brought its Small Business Support (SBS) facility for small and medium-sized enterprises (SMEs) to Jordan. The facility, which has been active in the southern and eastern Mediterranean (SEMED) region since 2012, is intended to equip SMEs with business expertise to facilitate innovation, growth and access to finance, which is intended to improve their potential to create employment. The project is funded with EUR 2.4 million (USD 3.33 million) from the SEMED Multi-Donor Account and the SEMED Cooperation Fund accounts of EBRD [1].
There are two programs under the SBS facility: the Enterprise Growth Program and the Business Advisory Services Program. The former focuses on structural and managerial change whilst the latter supports short-term projects such as environmental impact assessment, implementation of computerized manufacturing systems and quality certification [2].
EBRD is owned by 61 countries as well as the European Investment Bank and the European Union. As December 2013, EBRD reported total assets of EUR 48.9 billion (USD 67.9 billion) [3].
By Chikondano Faith Chisala, Research Associate
About The European Bank for Reconstruction and Development (ERBD) The European Bank for Reconstruction and Development (EBRD) is a multilateral institution headquartered in London. The bank began operations in 1991 upon the agreement of 40 countries, and it is owned by 61 countries as well as the European Investment Bank and the European Union as of 2012. It aims to finance operations that are both commercially viable and assist development in 34 countries in Eastern
Europe, Central Asia and North Africa. It does this by providing loans, debt securities, equity investments, guarantees and technical assistance to micro- and small businesses via commercial banks and non-bank microfinance institutions (MFIs). In 2013, EBRD invested EUR 8.5 billion (USD 11.4 billion) in 392 projects across 34 countries.
Sources and Additional Resources:
[1] European Bank for Reconstruction and Development Press Release, “EBRD launches new advisory support facility for enterprises in Jordan”, http://www.ebrd.com/pages/news/press/2014/140310.shtml
[2] European Bank for Reconstruction and Development website, “Working with us”, http://www.ebrd.com/pages/workingwithus/sbs/how.shtml
[3] European Bank for Reconstruction and Development Press Release, “Q4 2013 Audited Financial Statements-English”, http://www.ebrd.com/downloads/FI/Q4-2013-Interim-Financial-statements_-_English.pdf
MicroCapital Article, January 16, 2014, ” European Bank for Reconstruction and Development (EBRD) to Loan $2m to FINCA Jordan for On-Lending to Micro-, Small Enterprises (MSEs)”, https://www.microcapital.org/european-bank-for-reconstruction-and-development-ebrd-to-loan-2m-to-finca-jordan-for-on-lending-to-micro-small-enterprises-mses/
MicroCapital Article, January 8, 2014, “European Bank for Reconstruction and Development (EBRD) Loans $4m to Microfund for Women (MFW) of Jordan to Support Onlending to Female Entrepreneurs” https://www.microcapital.org/microcapital-brief-european-bank-for-reconstruction-and-development-ebrd-loans-4m-to-microfund-for-women-mfw-of-jordan-to-support-onlending-to-female-entrepreneurs/
MicroCapital Article, July 10, 2013, “European Bank for Reconstruction and Development (EBRD), European Union Launch $3m “Small Business Support” Facility to Bring Technical Assistance to Firms in Egypt”, https://www.microcapital.org/microcapital-brief-european-bank-for-reconstruction-and-development-ebrd-european-union-launch-3m-small-business-support-facility-to-bring-technical-assistance-to-firms-in-egypt/
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