EBRD accustoms companies to paying for high-quality consultancy

By carrying out consultancy programs, the European Bank for Reconstruction and Development (EBRD) is habituating companies to paying for high-quality consultancy services. This is developing the consultancy market in Moldova, head of EBRD mission, Francis Delaey, told a news conference on Tuesday, October 10. A company which has goods results due to a consultancy project, Delaey says, is likely to request assistance in the future and will pay for the services. Delaey states that it is the added value which matters for the company in the end as a result of a consultancy. The EBRD official considers that the BAS and TAS consultancy projects implemented in Moldova are important to the European Bank, because they prepare future loaners for EBRD and other banks. “Moldova has many small and medium enterprises, but they are not always keen to request direct investments from EBRD.” Francis Delaey specified that EBRD seeks to expand consultancy programs among companies, due to extra EUR 300 thousand provided within the project “Business Advisory Services” (BAS), added to those EUR 600 thousand provided initially. BAS will continue till the end of 2008, with a possible prolongation, the EBRD official believes. Previously a number of companies from Moldova assisted by EBRD consultancy projects described them as helpful, with significant increases in outcomes provided as proof. Among these are “Doina Vin”, “Biogas Inter Ltd”, “Macon” companies, etc. The second EBRD consultancy project – “Turn Around Management” (TAM), is intended to solve strategy and management issues and is carried out for 12 years in Moldova. TAM programs are long-term ones, ranging from 12 to 18 months. The funds come exclusively from foreign donors, such as the EU, the Fund for Developing countries, Denmark, France, Italy, Japan, Switzerland, etc. On the whole, the EBRD implemented 76 projects worth EUR 10 mln in the Republic of Moldova.