The European Bank for Reconstruction and Development (EBRD) launched today its Small Business Impact Fund. The Fund, under the umbrella of the EBRD’s Small Business Initiative (SBI), will provide the main vehicle to channel donor resources to small and medium-sized enterprises (SMEs).
The EBRD provides over €1.5 billion to finance and develop SMEs each year. Under the Small Business Initiative, an integrated set of tools is provided to promote SMEs, including financing for businesses directly and through financial institutions, co-financing, business advice and policy.
Activities in each country under the Small Business Initiative are also adapted to ensure they are relevant for each country’s priorities and needs. SME competitiveness is fostered by targeted key strategic priorities such as innovation, trade promotion, inclusive growth and corporate governance.
EBRD President Sir Suma Chakrabarti said: “Small businesses matter for economic development. There is a strong entrepreneurial spirit across our region but much remains to be done to foster that spirit. The Small Business Initiative draws on a number of the EBRD’s strengths, from indirect and direct investment to capacity-building and policy. Through the SBI, we can and will do more.”
