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ANTI-CRISIS PROGRAM OF GOVERNMENT OPERATES
Noyan Tapan
June 5, 2009
YEREVAN, JUNE 5, NOYAN TAPAN. Zangezur Copper and Molybdenum Enterprise
(ZCME) has paid off the 10 million-dollar credit received from Armenian
government, RA Minister of Finance Tigran Davtian announced on June 4.
The credit was given for 3 months for the purpose of continuing the
ZCME-implemented investment program and purchasing equipment. Besides,
the enterprise that has thousands of employees is continuing its
regular work.
The minister explained that by giving credit guarantees to construction
companies and providing assistance to other sectors, the government
tries to assist economic entities in a rapid and efficient way. The
matter concerns companies with export potential that have the impact
of a multiplier on other sectors of the economy.
In his words, budgetary crediting is not perceived quite ambiguously
by international bodies.
In addition to ZCME's program, the bids for assistance to business
plans of 41 companies were approved by the government's anti-crisis
operative staff.
15 of them involve budget credits of a total of 4bn 961.8m drams
(about 13m 410.4 thousand USD), 4 envisage participation of a total of
1bn 831.1m drams in capital of companies, 3 are related to provision
of credit guarantees of 3.05bn drams, one - to assistance of an
investment program of 145m drams, one is related to extension of the
re-exportation period of equipment given by foreign partners to a
company for temporary use, and yet another one involves non-financial
assistance. Besides, the operative staff has redirected 16 business
plans to the Small and Medium Enterprise Development National Center.
From: Emil Lazarian | Ararat NewsPress
Noyan Tapan
June 5, 2009
YEREVAN, JUNE 5, NOYAN TAPAN. Zangezur Copper and Molybdenum Enterprise
(ZCME) has paid off the 10 million-dollar credit received from Armenian
government, RA Minister of Finance Tigran Davtian announced on June 4.
The credit was given for 3 months for the purpose of continuing the
ZCME-implemented investment program and purchasing equipment. Besides,
the enterprise that has thousands of employees is continuing its
regular work.
The minister explained that by giving credit guarantees to construction
companies and providing assistance to other sectors, the government
tries to assist economic entities in a rapid and efficient way. The
matter concerns companies with export potential that have the impact
of a multiplier on other sectors of the economy.
In his words, budgetary crediting is not perceived quite ambiguously
by international bodies.
In addition to ZCME's program, the bids for assistance to business
plans of 41 companies were approved by the government's anti-crisis
operative staff.
15 of them involve budget credits of a total of 4bn 961.8m drams
(about 13m 410.4 thousand USD), 4 envisage participation of a total of
1bn 831.1m drams in capital of companies, 3 are related to provision
of credit guarantees of 3.05bn drams, one - to assistance of an
investment program of 145m drams, one is related to extension of the
re-exportation period of equipment given by foreign partners to a
company for temporary use, and yet another one involves non-financial
assistance. Besides, the operative staff has redirected 16 business
plans to the Small and Medium Enterprise Development National Center.
From: Emil Lazarian | Ararat NewsPress