EBRD organizes series of leasing training programmes in ETCs

It follows two successful five-day training courses already held in Armenia and Azerbaijan earlier this year. The series will be concluded with a programme in Moldova and Uzbekistan during the first quarter 2007. The trainings are undertaken under the ETC Initiative and funded by the ETC Multi Donor Fund.

The goal of the programme is to promote leasing as a new financial instrument for financing small and medium sized companies. The Bank aims to provide the necessary technical and commercial skills to leasing companies in each country in order to develop the domestic leasing industry.

EBRD's Early Transition Countries Initiative, launched in April 2004, currently includes Armenia, Azerbaijan, Georgia, the Kyrgyz Republic, Moldova, Mongolia, Tajikistan and Uzbekistan. Using a streamlined approach to financing medium scale private sector enterprises, the Initiative is aimed at mobilising more investment, and encouraging economic reform.

EBRD activities in these countries are growing rapidly: Compared to 18 transactions worth ?53 million and signed in 2003, the ETC Initiative has led to 61 transactions worth ?250 million being signed in 2005 and 70 expected this year. Bilateral funds and multilateral donor funds, in particular the ETC Multi-Donor Fund, are playing an important role both as catalysts for investment and as providers of support for complementary technical assistance programmes. Donors to the ETC Multi-Donor Fund currently include: Canada, Finland, Ireland, Japan, Luxembourg, Netherlands, Norway, Spain, Sweden, Switzerland, UK, and Taipei China. APA