EBRD, EIAH, EU to help SEE businesses get advisory support for growth

BUCHAREST (Romania), November 7 (SeeNews) – The European Bank for Reconstruction and Development, the European Investment Advisory Hub and the EU on Tuesday launched a programme to help businesses from Southeast Europe obtain advice for sustainable growth, the EBRD said.

The programme will support at least 240 small and medium-sized enterprises (SMEs) in Bulgaria, Greece and Romania with tailored business advice over a three-year period, the EBRD said in a press release.

The services provided will enable the firms to access local and international consultancy services to improve their competitiveness and take their businesses to the next level. The programme is supported by the the European Investment Advisory Hub (EIAH), through funding from the EU and complemented by EBRD co-financing.

“Providing advisory support to investment on the ground is a key objective of the Investment Plan for Europe and therefore the cooperation between the European Investment Advisory Hub and the EBRD in helping SMEs to grow is a significant and very welcome initiative,” European Commissioner for Regional Policy Corina Cretu said.

Over 100 businesses in Romania will benefit directly from the programme, which provides expertise across a wide range of areas including strategy, trade promotion, financial management, energy efficiency and marketing.

“We are very pleased to intensify our activities here in Romania. Our advisory programme has had a strong impact in advancing businesses as we aim to help them become national and regional champions,” EBRD Managing Director for SME Finance and Development Claudio Viezzoli said.

Businesses with a turnover of less than 50 million euro and fewer than 250 employees are eligible under the programme, provided they are majority locally owned.

EIAH is an initiative of the European Commission and the European Investment Bank that aims to boost investment in strategic projects around Europe to ensure that money reaches the real economy.

The EBRD is one of the largest institutional investors in Romania, having invested 7.6 billion euro ($8.78 billion) in more than 400 projects in the country.