The European Bank for Reconstruction and Development (EBRD), in cooperation with the European Union (EU), held a trade finance conference on October 1-2. The conference increased awareness and facilitated better access to trade finance instruments for small and medium-sized enterprises (SMEs) in Armenia.

During the two-day event, a number of high profile speakers introduced the benefits of trade finance for the import/export operations of SMEs through panel discussions, presentations and case studies of successful trade finance transactions conducted by the EBRD’s Trade Facilitation Programme (TFP) partner banks in Armenia.

The EBRD’s National Programme Manager, Small Business Support team, Tigran Aghabekyan, made a presentation on “Know How: From Advice to Access to Finance” as a follow up to the Bank’s Know How Information Campaign on the value of external advice for SMEs. Panel discussions on “Supporting SMEs with Know How” took place, and the participants discussed the opportunities and challenges that local entrepreneurs face in accessing trade finance in Armenia.

In his speech Tigran Aghabekyan emphasised the importance of building strategic partnerships with donors and mentioned that securing financing is one of the biggest challenges for small and medium-sized businesses in Armenia.

“We link our clients with the most appropriate sources for financing, be that the EBRD, one of our partner financial institutions or other investors. We also provide post-investment support, help clients achieve their goals, make the right capital expenditure decisions, improve their corporate governance and manage growth”, said Agabekyan.

The EBRD has been helping SMEs in Armenia access business advice and industry expertise since 2003. Over €5.3 million of donor funding has been committed to more than 900 advisory projects and market development activities in Armenia.

The EBRD, owned by 65 countries and two intergovernmental institutions, is supporting the development of market economies and democracies. Follow EBRD on the web, Facebook  and Twitter.