In an effort to help build viable market economies and create new jobs, the Economic and Business Development Program (EBDP) assists Soros foundations in their work to promote the restructuring of transitional economies. EBDP serves as a catalyst for economic development, playing a crucial role in several areas—particularly microfinance, small business development, targeted economic policy initiatives, retraining of unemployed and laid-off military personnel, and entrepreneurship education. Using local experts and resources, EBDP seeks to build and strengthen the local institutions that provide access to capital, promote legal reform, andprovide support services for micro- and small-business operations.
Creating a small business sector is a dramatic structural change in transitional economies. A major problem faced by emerging small businesses is the lack of access to credit due to limited resources and management experience and an underdeveloped banking sector. EBDP helps eliminate these barriers by using innovative lending approaches.
By the end of 2006, the Open Society Institute’s Economic and Business Development Program completed its merger with the Soros Economic Development Fund, an independent nonprofit foundation supported by OSI that provides loans, guarantees, and equity investments to financial institutions with strong social missions.
Read more about Economic & Business Development Program 2006 activities.
