The European Bank for Reconstruction and Development (EBRD) says it has implemented 245 projects in Belarus providing consultancy services for small and medium-sized businesses.
More than 200 local and 1,000 international experts were engaged in SME consultancy projects in Belarus, the EBRD said in a press-release.
In the framework of its SME consultancy program in Belarus, the EBRD not only provides full administrative support, but also covers up to 90% of the cost of consultancy services, thanks to donor funding from the European Union (EU) and other institutions.
Working with experts in the framework of the EBRD’s small business consultancy program helps companies enhance their approaches to business administration and introduce the best international practices for producing impressive results, Olga Kuznetsova, Belarus’ Manager of EBRD Small Business Support Team, said.
The EBRD has mentioned examples of successful cooperation in the framework of the small business consultancy program: West Ost Union Group (owner of the Buslik Chain) relied on a business plan developed by a team of international experts to optimize business administration, logistics, marketing and merchandizing. As a result, after a few years the company’s personnel number doubled, with 19 new stores opened in 8 towns of Belarus. The total cost of business consultancy services stood at 60,000 euro, of which West Ost Union paid 6,000 euro and the rest was covered by the EBRD.
Since the start of its operations in Belarus in 1992, the EBRD has invested almost 1.8 billion euro in some 70 projects in various sectors of the country’s economy. Energy efficiency and climate change initiatives have traditionally played an important role in the bank’s activities in the country and are expected to receive a further boost under GET (Green Economy Transition). (Prime-TASS/Business World Magazine)
