The objectives of the facility are:
- To improve SMEs’ access to finance and mitigate the shortage of long-term financing.
- To provide long-term local currency financing, thereby reducing SMEs’ currency risk.
- To help SMEs identify quality capital investment projects and assist in successful implementation, to improve their governance structure and introduce them to best practices.
- To help develop local financial markets in view of sustainable and market-based principles.
Small and medium-sized enterprises, including in the agribusiness, manufacturing and services, property and tourism, ITC and various other sectors.
- The EU and the EBRD share the risk of financing SMEs, allowing the EBRD to increase financing beyond the amounts currently possible.
Since the first year of implementation of the Action, the EBRD provided financing to six investment projects with SMEs, two in each of the eligible countries (as at end of 2016).
- The Facility provides services to help SMEs develop and implement good-quality capital investment projects.
- Assistance to SMEs in developing and implementing viable investment projects, business plans and financial reporting.
- Expertise of industry-specific consultants to advise on energy efficient or environmentally-friendly practices.
Various projects have benefitted from the project in the ICT, leasing, agribusiness and energy sectors.