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EU AND EBRD SUPPORT SMES IN ARMENIA TO ACCESS FINANCE AND ADVISE
Financial Services Monitor Worldwide
October 22, 2014 Wednesday
The European Bank for Reconstruction and Development (EBRD) and
the European Union (EU) issued statements today on the importance
of access to finance and access to know-how for the development of
small and medium-sized enterprises (SMEs) in Armenia.
"The development of SMEs is one of the priorities of the European
Union and a clear target in our cooperation in partner countries
like Armenia," noted the Head of Cooperation of the EU Delegation
to Armenia, Hoa-Binh Adjemian. "Programmes like the EBRD's, which
specifically aim at promoting and improving the work of SMEs here
in an integrated way, are very important to achieving this aim. This
is only one of several projects and facilities that are available to
Eastern Partnership countries thanks to the European Union."
The EU is currently a core donor to the EBRD's advisory support
activities to support to development of sustainable private sector in
Armenia, which bring international best practice and local know-how
to benefit of local SMEs.
Mr Mark Davis, the Head of EBRD Yerevan Resident Office, said: "It
is necessary to develop viable private sector in Armenia that will
enhance the supply chain and exports". To ensure the development of a
strong private sector, the EBRD in Armenia provides both finance and
know-how to SMEs, including business advice in how to access finance.
"This is very relevant for Armenia as, in terms of finance," continues
Mr Davis, "the SME sector in Armenia is constrained specifically
by lack of equity: therefore, the development of an active capital
market is crucial for ensuring the further growth and development of
the local SMEs while leading them to a higher level of sophistication".
At the same time EBRD's vast experience with local enterprises at pre-
and post- investment stageshas shown that SMEs are often insufficiently
prepared to present themselves to potential investors.
Under the EU SME Flagship Initiative, the EBRD has invited Mr Gavin
Ryan, an international expert with over 25 years' experience in
financial industry and private equity markets, to share his expertise
of exposing local SMEs to investment opportunities to grow and become
genuine catalysts for their local economies.Mr Ryan's successful
experience as an investment banker in London and Tokyo with Nomura
Securities and HSBC Investment Bank, and his knowledge gained as a
private equity fund manager with Soros Investment Management will allow
obtaining the best practice knowledge and offering more sophisticated
tools to SMEs on engaging with investors. As Tigran Aghabekyan,
the National Programme Manager of the EBRD's Small Business Support
team in Armenia said, "We believe that businesses in Armenia need
the professional know-how of experienced and qualified advisers to
better present themselves and engage with investors.
That's where we come in. We connect businesses with qualified local
and international advisers, and offer consultants lots of opportunities
for continuous professional development".
Another opportunity for such professional development is the
tailor-made course on Management Presentation / Investor Factsheet
Preparation for SMEs which Mr Ryan will deliver to financial advisers.
Mr Ryan said: "Both countries and companies are competing for the
attention of investors. A quality factsheet should stand out, capture
the attention of investors and make them curious to know more. It will
do this only by both containing credible information and by presenting
it well. The course will help financial advisers achieve this objective
and thus better serve their clients." 2014 Global Data Point.
Financial Services Monitor Worldwide
October 22, 2014 Wednesday
The European Bank for Reconstruction and Development (EBRD) and
the European Union (EU) issued statements today on the importance
of access to finance and access to know-how for the development of
small and medium-sized enterprises (SMEs) in Armenia.
"The development of SMEs is one of the priorities of the European
Union and a clear target in our cooperation in partner countries
like Armenia," noted the Head of Cooperation of the EU Delegation
to Armenia, Hoa-Binh Adjemian. "Programmes like the EBRD's, which
specifically aim at promoting and improving the work of SMEs here
in an integrated way, are very important to achieving this aim. This
is only one of several projects and facilities that are available to
Eastern Partnership countries thanks to the European Union."
The EU is currently a core donor to the EBRD's advisory support
activities to support to development of sustainable private sector in
Armenia, which bring international best practice and local know-how
to benefit of local SMEs.
Mr Mark Davis, the Head of EBRD Yerevan Resident Office, said: "It
is necessary to develop viable private sector in Armenia that will
enhance the supply chain and exports". To ensure the development of a
strong private sector, the EBRD in Armenia provides both finance and
know-how to SMEs, including business advice in how to access finance.
"This is very relevant for Armenia as, in terms of finance," continues
Mr Davis, "the SME sector in Armenia is constrained specifically
by lack of equity: therefore, the development of an active capital
market is crucial for ensuring the further growth and development of
the local SMEs while leading them to a higher level of sophistication".
At the same time EBRD's vast experience with local enterprises at pre-
and post- investment stageshas shown that SMEs are often insufficiently
prepared to present themselves to potential investors.
Under the EU SME Flagship Initiative, the EBRD has invited Mr Gavin
Ryan, an international expert with over 25 years' experience in
financial industry and private equity markets, to share his expertise
of exposing local SMEs to investment opportunities to grow and become
genuine catalysts for their local economies.Mr Ryan's successful
experience as an investment banker in London and Tokyo with Nomura
Securities and HSBC Investment Bank, and his knowledge gained as a
private equity fund manager with Soros Investment Management will allow
obtaining the best practice knowledge and offering more sophisticated
tools to SMEs on engaging with investors. As Tigran Aghabekyan,
the National Programme Manager of the EBRD's Small Business Support
team in Armenia said, "We believe that businesses in Armenia need
the professional know-how of experienced and qualified advisers to
better present themselves and engage with investors.
That's where we come in. We connect businesses with qualified local
and international advisers, and offer consultants lots of opportunities
for continuous professional development".
Another opportunity for such professional development is the
tailor-made course on Management Presentation / Investor Factsheet
Preparation for SMEs which Mr Ryan will deliver to financial advisers.
Mr Ryan said: "Both countries and companies are competing for the
attention of investors. A quality factsheet should stand out, capture
the attention of investors and make them curious to know more. It will
do this only by both containing credible information and by presenting
it well. The course will help financial advisers achieve this objective
and thus better serve their clients." 2014 Global Data Point.