The European Bank for Reconstruction and Development (EBRD) will launch an online learning and advice hub to help micro, small, and medium-sized enterprises (MSMEs) navigate the coronavirus (COVID-19) pandemic.
In a press statement on Saturday, the bank announced it worked with partner banks and business support groups to roll out the programme. Through the platform, the EBRD will provide training resources, knowledge-sharing, and expert advice in the coming months.
Also available through the programme will be expert advice to manage cash flow, suppliers, and staff during a crisis situation. The programme aims to help more than 10,000 businesses in 30 countries as the ongoing economic fall-out from the pandemic has hit many companies hard.
The hub will offer specific local information in Arabic, English, Russian, Ukrainian, and Turkish, on the financial support available from governments and banks in 30 of the economies where the EBRD invests.
The EBRD’s free-to-use online learning and advice programme aims to support MSMEs, vital to the economies in which the bank invests, face the economic impact of the coronavirus pandemic.
The EBRD’s “Know How to…in a Crisis” programme, hosted on the bank’s The Know How Academy platform, is a central learning hub where entrepreneurs can access practical assistance. This includes training materials and crisis management advice from industry experts, as well as the opportunity to join peer discussion forums.
The initiative is funded by the European Union (including through its European Investment Advisory Hub), Kazakhstan, and the EBRD’s Small Business Impact Fund.
Reem El Saady, Regional Manager of Advice for the Small Business Program in Egypt, said: “The EBRD is deeply committed to assisting small businesses in these unprecedented times and helping them develop the resilience to overcome the challenges and build for a strong recovery. No matter what size your company is, the EBRD hub is designed to offer a practical helping hand.”