The EBRD is launching a free-to-use online learning and advice programme to support micro, small and medium-sized enterprises (MSMEs) confronted with the economic impact of the coronavirus pandemic.

According to EBRD Armenia, these private small businesses are vital for the economies where the EBRD invests.

The EBRD “Know How to...in a Crisis” programme, hosted on the bank’s platform, The Know How Academy, is a central learning hub where entrepreneurs can access practical assistance, including training materials and crisis management advice from industry experts and can join peer discussion forums.

The hub will also offer specific local information on the financial support available from governments and banks in 30 of the economies where the EBRD invests.

Launched by the EBRD as part of its enhanced support for firms during the current crisis, the programme will focus on five key business pillars:

1) Crisis Management: Your customers and suppliers
2) Crisis Management: Financial management essentials
3) Crisis Management: Financing your firm
4) Crisis Management: Your staff - your key asset
5) Crisis Management: Management and leadership challenges.

The first module, “Crisis management: Your customers and suppliers” will provide advice on how to keep your business supply chain moving and the cash coming in. It will be available from today, with the remaining four modules to be available shortly afterwards. All resources will be offered in Arabic, English, Russian, Ukrainian and Turkish.

The EBRD will be working with partner banks and business support groups across its regions to roll out the programme in 30 countries, with the aim of reaching more than 10,000 people working in MSMEs, offering them training resources, knowledge-sharing and expert advice in the coming months.

The initiative is funded by: the European Union (including through its European Investment Advisory Hub), Kazakhstan and the EBRD’s Small Business Impact Fund (Italy, Japan, Korea, Luxembourg, Switzerland, Sweden, US, Taipei China).

 “Support of small businesses is at the core of the EBRD’s mandate and mission. We are committed to contributing to the resilience of businesses so that they could overcome the current challenges and prepare for the strong and fast recovery. The EBRD hub can offer a practical helping hand to companies of various sizes,” said Dimitri Gvindadze, Head of EBRD Armenia.

“View the programme at www.ebrdknowhowacademy.com from 28 May. For more information and press interviews, please contact: Armenuhi Arakelyan, arakelya@ebrd.com,” EBRD said.