The European Commission has adopted a €10 million program to support Small and Medium Sized enterprises and trade opportunities in the Eastern Partnership (EaP) countries. 

“Our Eastern neighbors have been hit hard by the economic crisis. Small and medium sized enterprises can play a key role in generating jobs and economic growth because they respond quickly to opportunities created by the market. It is therefore our crucial task to support small businesses in the Eastern Partnership region,” press release quoted EU Commissioner for Enlargement and Neighborhood Policy Štefan Füle as saying.

The new program covers support to partner countries’ institutions to put in place and implement policy and legislative reforms in support of small and medium sized enterprises; extension of the East-Invest project, which supports Business Support organizations in the Eastern Partnership countries and promotes trade opportunities between European and Eastern Partnership companies; strengthening auditing and reporting capacity of small and medium sized enterprises to improve their access to financing in the Eastern Partnership countries.

Eastern Partnership includes Armenia, Azerbaijan, Belarus, Georgia, Moldova and Ukraine.