About
The European Union’s EU4Business Initiative ultimately serves SMEs as the beneficiaries of EU support in the Eastern Partnership countries — Armenia, Azerbaijan, Georgia, Moldova, and Ukraine.
Access to Finance Support
- concessionary loans via national banks
- micro financing for household businesses
- mall grants to SMEs
- training staff at national banks to better serve SMEs
- training to SMEs in financial literacy
Business Development Services support
- providing direct advice and training to SMEs
- training and capacity-building among national BSOs establishing business incubators for start-ups
- developing business clusters for mutual support and development
- supporting governments in identifying new markets
- building capacities at export support organisations
Business Enabling Environment support
- promoting regulatory reform and best practice
- building capacity amongst policy makers and regulators
- encouraging public-private dialogue
- informing business about reform processes and rules/procedures
The EU interventions in Armenia help generate and sustain jobs, stimulate higher SME growth, and expand SME exports.
In 2023, under the EU4Business initiative, the EU funded 37 diverse projects with a total of over EUR 169 million, benefiting 6,116 SMEs. Together, the projects generated around 18,294 new jobs and drove a notable 28% increase in the total turnover of SMEs in Armenia.
28%
increase in turnover
