New EBRD initiative for stimulating trade of small and medium enterprises

The European Bank for Reconstruction and Development (EBRD) officially initiated its new program of support for small and medium enterprises (SME) in Geneva on Wednesday, September 28, with the aim of increasing their access to advisory services and funds for financing trade.

The initiative, known as Trade Ready, will expand the outreach of the EBRD’s pioneering Trade Facilitation Program (TFP) and Advice for Small Businesses (ASB), helping SMEs involved in import and export activities to get the finance and know-how they need to strengthen their ability to trade and to grow, states the report of the EBRD sent to Tanjug.

The initiative aims to unleash the potential of SMEs for international trade and it offers trade finance training for local banks as well as advisory services for companies.

– We know that small businesses need access to both finance and the right advice to develop and grow. With Trade Ready, the EBRD is supporting small businesses through a wide range of services to make them more competitive abroad and at home – said Charlotte Ruhe, EBRD Director of Advice for Small Businesses.

The aim of the TFP, which was started in 1999, is to advance foreign trade. It currently involves more than 100 partner banks in 27 countries in which the EBRD invests, with investments exceeding EUR 1.5 billion, and more than 800 banks it cooperates with throughout the world.