The European Bank for Reconstruction and Development (EBRD) widen its support for women-led companies in Moldova with the € 2.5 million grant provided by the Swedish Government. The funds will boost the EBRD’s “Women in Business” program, which supports women entrepreneurs in implementing innovations through business consultancy, training, long-term coaching, mentoring and networking and socialization opportunities.
In order to help women increase business competitiveness, the EBRD provides access to international and local consultants in areas such as strategic development, marketing, operations, quality management, energy efficiency, financial management and others.
The Swedish funds will partially cover the costs that companies will incur for such consultancy services. In addition, the EBRD uses training, mentoring and coaching to encourage women to improve their entrepreneurial skills and strengthen their self-confidence.
Beginning with 2011, the EBRD provided assistance to over 160 women entrepreneurs through the “Women in Business” Program, also funded by Sweden. An overwhelming majority of program beneficiaries saw an increase in sales, an average of 140 percent, one year after the end of their consulting projects. More than half increased the number of employees, creating almost 500 new jobs.
The best economic results have been achieved by companies that have benefited from both business consultancy and capacity-building activities. Starting in 2011, the Swedish government has financed the program with 9 million Swedish kronor or equivalent of 960,000 euros. In 2014, he increased his support by offering 47 million Swedish kroner (about 5.2 million euros) to implement the program in six Eastern Partnership countries: Armenia, Azerbaijan, Belarus, Georgia, Moldova and Ukraine.
Signe Burgstaller, Sweden’s ambassador to the Republic of Moldova, said that Sweden is particularly pleased to continue its support for EBRD’s “Women in Business” program, relying on the positive results already achieved. “By supporting women in business, we contribute both to empowering women and creating jobs, which has positive effects on economic and social development across the country,” the ambassador noted.
Angela Sax, head of the EBRD Office in Moldova, added: “With the generous support from the Swedish Government, I contributed to transforming the performance of 160 small businesses run by talented and creative women from Moldova. We have extraordinary results. In the future, we intend not only to increase access to advice for women-run companies but also to provide funding through local banks as soon as banking sector modernization is completed. ”
BERD este cel mai mare investitor instituțional din Moldova. Pînă acum a investit peste 1,2 miliarde de euro în peste 120 de proiecte investiționale în țară. Totodată, a mai sprijinit peste 750 de întreprinderi mici și mijlocii prin consultanță în afaceri.
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