The three-day SME Finance seminar organized by EBRD has started today in Yerevan.

The seminar funded by the European Union (EU) is aimed at competence building for the local consultants to enable them to offer better services to SMEs.

The priority themes will be financial performance analyses, preparation of business proposals for potential investment opportunities, consultation on possible debt and equity financing perspectives, increasing the capacity for the local advisers to businesses, increasing the competitiveness and innovation in the sector and fostering access to finance.

The small and medium-sized Enterprise Sector (SME) development is one of the key focus areas targeted by the European Bank for Reconstruction and Development (EBRD) and the European Union (EU), the core donor for the EBRD’s SME support activities in Armenia. The EBRD and the EU are helping Armenian SMEs to increase access to finance and international best business practices leading to enterprise development.  

“Our strategic priorities in Armenia are to enhance private sector competitiveness, develop the capital markets and improve the business environment. The SMEs in Armenia have great potential, but usually lack access, especially for equity and quasi-equity financing. SMEs need more sophisticated valuation and appropriate structuring to obtain different financing. This will be an incredibly useful seminar for the local consultants and a very timely one, as the SMEs sector in Armenia needs a boost,” noted Mark Davis, Head of the EBRD Yerevan Resident Office.

According to him, financing of SMEs in Armenia is one-dimensional and is mostly provided by secured loans from banks.

Mr. Jeff Ferry, the Associate Director/Head of Regional Programmes of EBRD’s Advice for Small Businesses also attached importance to organization of such sessions in Armenia.

“Businesses in Armenia need professional advisory to obtain best practices to better prepare for investments. We consider the development of local consulting market as crucial point for developing the SMEs and work to connect businesses with qualified local and international advisers for continuous professional development. SMEs play important role in Armenian economy development and EU will continue to support them,” he said.

“This is the third SMEs-related seminar, organized by EBRD, which is aimed at development of professional skills of financial advisors, who in their turn will help the companies develop, introduce new approaches and have access to financial tools,” said Tigran Aghabekyan, the Principal Manager of EBRD's Advice for Small Businesses.

The session for local financial advisors will be lead by international expert Juan Gamecho.