€5 MILLION FOR THE EBRD REGIONAL PROGRAMS By Marietta Khachatrian The European Union, supporting EBRD small business programs in the region, has pledged additional funds of €5 million to support the EBRD’s TurnAround Management (TAM) and Business Advisory Service (BAS) Programs. This technical assistance is earmarked for use in the Eastern Partnership countries, which include Armenia, Azerbaijan, Belarus, Georgia, Moldova and Ukraine. Armenia will get 1/6 of this amount in addition. TAM and BAS Programmes assist small -sized enterprises and bring best business standards and improve SME management skills, thereby making them more competitive and able to attract external financing. For example, the BAS Programe in Armenia was established in 2003. Over 842 BAS projects have been implemented in Armenia. We are hopeful that newly received funds would serve the purpose, especially when the small business in Armenia is not promoted. |
