The European Union’s EU4Business initiative has joined forces with partners in the Eastern Partnership region to help small and medium-sized enterprises (SMEs) in Georgia make the most of their European ambitions, by offering them financing for business growth and investment in new technology to meet European standards.
A story of one Georgian road construction company demonstrates how other SMEs can benefit from funding opportunities available through a credit line set up by the EU4Business initiative and the European Bank for Reconstruction and Development (EBRD). Sand and gravel processors, wheel excavators, trucks and other portable equipment complete the list of equipment purchased by the company with the help of the credit line, which provides technical assistance and helps SMEs access finance for Free Trade Area related investments.
Through these investments, the company has been able to boost its productivity, replacing old technology with environmentally friendly updates and enhancing quality, as well as improving health and safety standards, in line with the recommendations of project consultants.
The EU4Business-EBRD Credit Line targets small and medium-sized enterprises in Georgia, the Republic of Moldova and Ukraine. All three countries are signatories to an Association Agreement and have benefited from signing up to the Deep and Comprehensive Free Trade Area with the EU. The Credit Line helps interested businesses to make the most of open access to the EU, the world’s largest trading block, by modernising their production and services in line with EU standards.
