ARMENIA’S SMALL AND MEDIUM-SIZED BUSINESSES COULD RECEIVE CLOSE TO $17,198,400 ASSISTANCE – MINISTER

January 24, 2013 | 12:12

YEREVAN. – The Government of Armenia will continue assisting the
country’s small and medium-sized businesses in 2013 by providing
technical and financial support, Economy Minister Tigran Davtyan said
during a press conference on Thursday.

Specifically, the state budget will allocate 150 million drams
(approx. $368,537) to the Small and Medium Entrepreneurship
Development National Center; 778 million drams (approx. $1,911,480)
have accumulated at the Small and Medium-Sized Enterprise Fund, and
the Universal Credit Organization’s fund is close to six billion drams
(approx. $14,741,490).

As per Davtyan, small and medium-sized businesses in Armenia have
received assistance worth 97.8 billion (approx. $240,286,348) drams in
recent years, and the loans that are provided with the Government’s
assistance are more favorable as compared to those which the market
allocates.