The European Bank for Reconstruction and Development (EBRD) supports businesses to work with local consultants and international industry experts on advisory projects to improve competitiveness, strengthen performance and drive growth. These projects are supported on a cost-sharing basis, with 65-75% of the net project costs being reimbursed through a grant. In May 2017, the Ministry of Energy, Commerce, Industry and Tourism (MECIT) and the EBRD signed a cooperation Agreement to provide over 100 SMEs, registered and operating in the Republic of Cyprus, with advisory projects to ensure sustainable growth in the future. The Programme is funded by the European Regional Development Fund.
A wide range of projects can be supported, in the following areas:
Strategy
- Strategic planning
- Business planning
- Feasibility studies
- Financial long-term planning
- Expansion through export
- Etc.
Marketing
- Sales management
- Market research
- Marketing strategy (incl. digital marketing)
- Branding
- Promotion channels, incl. on-line channel (website)
- Etc.
ICT
- Enterprise resource planning (ERP)
- Industry specific systems
- Process management systems
- Document management systems
- IT infrastructure optimization
- Etc.
Quality management
- ISO
- GDPR
- Safety at work systems
- Product safety
- Etc.
Organization
- Organisational design
- Business process re-engineering
- Supply chain management
- Human resources management
- Etc.
Energy/ Resource efficiency
- Energy efficiency engineering solutions
- Energy efficiency audit and planning
- Etc.
Financial Management
- Accounting processes
- Financial reporting (transformation, consolidation)
- Management reporting
- Tax reporting
- Etc.
To be eligible, a business should meet the following criteria:
- Size: up to 50 mln. EUR of annual turnover or less than 43 mln. EUR of total assets. Number of employees fewer than 250;
- Maturity: in operation for more than two years;
- Sector: not engaged in military activities or production, tobacco, gambling or financial services
- Integrity – maintain high standards of integrity;
- Financial sustainability and ambitions for growth – the management should be committed to implement the results of the business advice and have funds for the implementation.
To apply, complete the Application form and provide the following documents: certificate of incorporation, certificate of shareholders and certificate of directors, as well as financial statements for the recent 2 years. The application can be find online at www.ebrd.com/knowhow/Cyprus.
For more information or to apply, please email knowhowcyprus@ebrd.com or call the EBRD Cyprus office:
+357223955 00 (#1).
