Azernews.Az

By Aynur Jafarova

The European Bank for Reconstruction and Development (EBRD) and BG Kazakhstan, part of BG Group, have signed an agreement to continue the second phase of their support program for women and young entrepreneurs in the Burlinskiy district of western Kazakhstan in 2014.

The program, which helps entrepreneurs and start-ups in Aksai and Uralsk in western Kazakhstan, aims to foster sustainable development in the region, EBRD reported on March 4.

The first phase of the program was launched in 2013 and will conclude in April 2014. It has seen over 80 start-ups and entrepreneurs receive training in business skills.

"The program has also helped four start-ups to receive micro financing and launch their own firms, held two business tours for 13 entrepreneurs to Astana and Almaty, and subsidized consultancy services for four local entrepreneurs. Additional training courses have helped strengthen the knowledge of over 15 local management consultants," the bank said.

The second phase of the program will run for 12 months and employ 210,000 euros in donor funding from BG Kazakhstan to continue this support. Coaching and mentoring services will provide longer-term assistance for 40 new entrepreneurs, while business advisory projects will help existing businesses take the next steps for their development.

Charlotte Ruhe, the Director of the EBRD's Small Business Support team believes the the EBRD's continued partnership with BG Kazakhstan "will help entrepreneurs in western Kazakhstan acquire the know-how they need for their businesses to succeed and grow."

"Supporting society is one of BG Group's business principles, which allow us to ensure that local communities where we operate benefit from our presence on a long-term basis. This initiative is funded from the company's voluntary social investments, and aims to diversify the local economy through support for self-employment and SME development among young people and women in non-energy sectors. It is also aligned with the national and regional socio-economic development agenda of Kazakhstan," Matteo Grassani, the Branch Director for BG Kazakhstan said.

The EBRD has been helping small and medium-sized firms in Kazakhstan to access business advice since 1998. To date, it has helped almost 1,000 enterprises, employing over 14 million euros in donor funding and 6.3 million euros in cost-sharing contributions from client enterprises.

BG Kazakhstan is a world leader in natural gas, with a strategy focused on connecting competitively-priced resources to specific, high-value markets. Active in more than 20 countries, BG Group has a broad portfolio of business interests focused on exploration, production and liquefied natural gas. It combines a deep understanding of gas markets with a proven track record in finding and commercializing reserves.