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EBRD to increase trade fiance support for SMEs

Xinhua, September 29, 2016 Adjust font size:

The European Bank for Reconstruction and Development (EBRD) is launching a new initiative to increase access to trade finance and advisory services for small and medium-sized businesses (SMEs).

The initiative, known as Trade Ready, aims to unleash the potential of SMEs for international trade.

It offers trade finance training for local banks as well as advisory services for companies alongside policy dialogue to engage in improvements in the regulatory environment.

"We know that small businesses need access to both finance and the right advice to develop and grow. With Trade Ready, the EBRD is supporting small businesses through a wide range of services to make them more competitive abroad and at home. To achieve inclusive trade, we need to address the fact that smaller businesses are often overlooked," said Charlotte Ruhe, EBRD director of advice for small businesses.

Under the new initiative, banks can expect to win new clients with the introduction of trade finance products, while businesses can benefit from better access to finance and the chance to expand to international markets.

The EBRD helps small and medium-sized businesses to access external advice, applying donor funding from the European Union and a wide range of bilateral and multilateral donors. Endit