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Government earmarks $100 mln for extending credits to small and
mid-scale businesses as part of bailout
YEREVAN, May 31. /ARKA/. Armenian Prime Minister Tigran Sargsyan,
speaking Friday in National Assembly, said Armenian Government has
earmarked about $100 mln for extending credits to small and mid-scale
businesses as part of its anti-crisis program.
`Armenian Government views small and mid-scale business as its
top-priority target. That is why it allocates $100 million to support
programs in this area', he said.
The premier said that the Government set up the premier-affiliated
anti-crisis group for supporting small and mid-scale businesses by
extending credits and guarantees to them as well as participation in
companies' capital.
`More than 20 companies have already used this instrument and the
Government's support. All their information is open, and the program
will be implemented transparently.'
Sargsyan also said that the Government has already embarked on housing
problem solution in quake-stricken areas.
In particular, about AMD 9 billion was targeted for construction here.
This was planned to spur the economy and create additional jobs.
The premier said that the Government also extended $10-million credit
to Zangezur Copper and Molybdenum Combine.
The company has repaid the loan within set terms. Sargsyan said that
construction of North-South highway, Iran-Armenia railway and a new
0Anuclear unit is under discussion now. -0'
mid-scale businesses as part of bailout
YEREVAN, May 31. /ARKA/. Armenian Prime Minister Tigran Sargsyan,
speaking Friday in National Assembly, said Armenian Government has
earmarked about $100 mln for extending credits to small and mid-scale
businesses as part of its anti-crisis program.
`Armenian Government views small and mid-scale business as its
top-priority target. That is why it allocates $100 million to support
programs in this area', he said.
The premier said that the Government set up the premier-affiliated
anti-crisis group for supporting small and mid-scale businesses by
extending credits and guarantees to them as well as participation in
companies' capital.
`More than 20 companies have already used this instrument and the
Government's support. All their information is open, and the program
will be implemented transparently.'
Sargsyan also said that the Government has already embarked on housing
problem solution in quake-stricken areas.
In particular, about AMD 9 billion was targeted for construction here.
This was planned to spur the economy and create additional jobs.
The premier said that the Government also extended $10-million credit
to Zangezur Copper and Molybdenum Combine.
The company has repaid the loan within set terms. Sargsyan said that
construction of North-South highway, Iran-Armenia railway and a new
0Anuclear unit is under discussion now. -0'