The European Bank for Reconstruction and Development (EBRD) is launching a free-to-use online learning and advice program to support micro, small and medium-sized enterprises (MSMEs) confronted with the economic impact of the coronavirus pandemic. These private small businesses are vital for the economies where the EBRD invests, Report informs with reference to the Bank.
The EBRD “Know How to…in a Crisis” program, hosted on the Bank’s platform, The Know How Academy, is a central learning hub where entrepreneurs can access practical assistance, including training materials and crisis management advice from industry experts and can join peer discussion forums.
The hub will also offer specific local information on the financial support available from governments and banks in 30 of the economies where the EBRD invests.
Launched by the EBRD as part of its enhanced support for firms during the current crisis, the program will focus on five key business pillars:
Crisis Management: Your customers and suppliers
Crisis Management: Financial management essentials
Crisis Management: Financing your firm
Crisis Management: Your staff your key asset
Crisis Management: Management and leadership challenges.
The first module, “Crisis management: Your customers and suppliers,” will provide advice on how to keep your business supply chain moving and the cash coming in. It will be available from today, with the remaining four modules to be available shortly afterwards. All resources will be offered in Arabic, English, Russian, Ukrainian, and Turkish.
The EBRD will be working with partner banks and business support groups across its regions to roll out the program in 30 countries, with the aim of reaching more than 10,000 people working in MSMEs, offering them training resources, knowledge-sharing, and expert advice in the coming months.
The initiative is funded by: the European Union (including through its European Investment Advisory Hub), Kazakhstan, and the EBRD’s Small Business Impact Fund (Italy, Japan, Korea, Luxembourg, Switzerland, Sweden, US, Taipei China).
Ines Rocha, EBRD Director, SME Finance and Development, 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.”