46 LOAN PROGRAMS
Azat Artsakh – Nagorno Karabakh Republic (NKR)
31 Jan 05
In 2004 the NKR Fund for Development of Small and Medium- Size
Business worked out and implemented a program for encouraging small
and medium-size business providing for financial and investment aid to
small and medium-size business owners through privileged loans, as
well as information and consulting. To fulfill these goals the fund
worked out a system of measures to be taken for the implementation of
which 200 million drams were provided from the State Budget 2004. In
the framework of the program about 10 small and medium-size business
owners from Nagorni Karabakh participated in the first economic forum
of the CIS Chamber of Commerce and Industry and EXPO 2004 held in
Yerevan in June 2004. According to the executive director of the fund
Vladimir Sayadian, recently business directories, reference books have
been published to provide information, methodological aid, consulting
in working out business plans, a web site was created. V. Sayadian
said, the amount of the loans provided in the framework of financial
and investment aid totaled 188 million drams. In 2004 111 applications
for loan were submitted of a total of 566675 thousand drams the most
part of which was for orcharding. 43 applications for loan referred to
orcharding and viticulture. 39 were for cattle breeding and fish
breeding. 15 applications referred to industrial production, 8 food
processing and production, 6 services. Of the 111 applications for
loan the fund financed only 31. On the whole, in 2004 the fund granted
46 loans totaling 181147.6 drams.
SRBUHI VANIAN.
31-01-2005