Three quarters of the Romanian small and medium companies (SMEs) which received consultancy from the European Bank for Reconstruction and Development (EBRD) increased their turnovers.

More than half of them grew productivity, as well as their staff and created 3,000 jobs.

The EBRD and the Romanian state have decided to prolong the support for small and medium-sized enterprises.

Andrei Gerea, the Minister of Energy, Small and Middle-Sized Enterprises and James Hyslop, the EBRD director for Romania signed a memorandum to continue the “Small Business Support” program for the next five years.

The program is currently financed by main donors Austria and Korea, the Technical Cooperation TaiwanBusiness-EBRD and the EBRD Shareholders’ special fund.

The EBRD is the largest institutional investor in Romania, with EUR 600 million invested in 2014, and EUR 7 billion ever invest in 370 Romanian projects.

editor@romania-insider.com