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ARMENIAN GOVERNMENT EARMARKS 150MLN DRAMS FOR SME DEVELOPMENT IN 2013
YEREVAN, January 24. /ARKA/. Armenian government decided to allocate
150mln drams under a small and medium enterprise (SME) development
program in 2013.
The main aim of the program is to provide continuous state support to
small and medium companies, the country's minister of economy Tigran
Davtyan said.
The money will be used particularly for supporting businessmen in
start-up, providing loan guarantees and technical and financial
consultations on various issues.
The minister pointed out that the loan threshold may be increased
from 3 to 5mln drams due to high demand.
Davtyan stressed that about 92% of the money will be directed to the
country's regions.
He also said that these funds are only a part of SME development
program in Armenia. SME will be also supported by the SME crediting
fund (about 778mln drams) and the SME Investments universal credit
organization (about 6bln drams)
"It is recoverable resources which will help continue financing
start-ups and guaranteeing loans", the minister said.
A total of about 98bln drams were allocated for SME in Armenia in
2007-2012, he reported.
There are currently about 60,000 companies, 92% of which are small
or medium-sized, the minister said. ($1=405.44drams). -0-
YEREVAN, January 24. /ARKA/. Armenian government decided to allocate
150mln drams under a small and medium enterprise (SME) development
program in 2013.
The main aim of the program is to provide continuous state support to
small and medium companies, the country's minister of economy Tigran
Davtyan said.
The money will be used particularly for supporting businessmen in
start-up, providing loan guarantees and technical and financial
consultations on various issues.
The minister pointed out that the loan threshold may be increased
from 3 to 5mln drams due to high demand.
Davtyan stressed that about 92% of the money will be directed to the
country's regions.
He also said that these funds are only a part of SME development
program in Armenia. SME will be also supported by the SME crediting
fund (about 778mln drams) and the SME Investments universal credit
organization (about 6bln drams)
"It is recoverable resources which will help continue financing
start-ups and guaranteeing loans", the minister said.
A total of about 98bln drams were allocated for SME in Armenia in
2007-2012, he reported.
There are currently about 60,000 companies, 92% of which are small
or medium-sized, the minister said. ($1=405.44drams). -0-