BFC implemented a survey of micro, small and medium enterprises (MSMEs) in four countries: Bulgaria, Georgia, Ukraine and Russia in accordance with international standards (ESOMAR).

BFC accomplished the following project objectives:

• Trained 89 interviewers in four countries;
• Interviewed over 1,200 MSMEs;
• Coded and checked data for accuracy using statistical techniques.

This study enabled the EBRD to measure the impact of bank lending on MSMEs by examining their performance, growth and investments over a three-year period.

The survey was implemented in 37 locations in Bulgaria (shown in the map below), Tbilisi (Georgia), Nizhniy Novgorod (Russia), and seven cities in Ukraine.