European Bank for Reconstruction and Development (EBRD)
The European Bank for Reconstruction and Development (EBRD) is an international financial institution founded in 1991. As a multilateral developmental investment bank, the EBRD uses investment as a tool to build market economies. Initially focused on the countries of the former Eastern Bloc it expanded to support development in more than 60 countries from Central Europe to Central Asia.
Since September 25, 1992, the EBRD has been helping local Azerbaijani small and medium-sized enterprises in many areas, such as food and drink, wholesale and retail trade, construction and engineering. The Bank provides its assistance not only in Baku, but also for companies outside the capital. 25% of the bank’s projects have already been implemented outside of Baku.
Our company Best Soft is an official partner (consultant) of the European Bank for Reconstruction and Development (EBRD) in the field of Information Technology and Communications.
Under the terms of cooperation, we, as consultants, receive part of the payment for the project from the EBRD, and part from the Customer. The EBRD can pay up to 50% of the contract with the Customer, but not more than 10,000 Euro. This money is paid free of charge. This is not a loan - it is an aid to the development of private business. Thus, the customer significantly reduces its project costs.
To qualify for assistance through an advisory project with a local consultant, enterprises must meet the following criteria:
- Size: up to 250 employees. Plus either an annual turnover of less than €50 million OR a balance sheet total of less than €43 million.
- Ownership: be privately owned and owned by local nationals.
- Maturity: operate for a minimum of 2 years.
- Sector of activities: operate in any of the sectors where the EBRD operates except banking, financial services and insurance. There are some limitations related to prohibited sectors and activities (such as tobacco industry, gambling, trade in wildlife, trade in pesticides and herbicides, etc.)
