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Government Approves 150 Million Drams Assistance To Small And Medium

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  • Government Approves 150 Million Drams Assistance To Small And Medium

    GOVERNMENT APPROVES 150 MILLION DRAMS ASSISTANCE TO SMALL AND MEDIUM BUSINESSES

    ARKA
    Jan 21, 2010

    YEREVAN, January 21, /ARKA/. The government of Armenia has approved
    today a 150 million Dram assistance to small and medium businesses.

    Economy minister Nerses Yeritsian said the funds will be directed to
    securing administrative expenses of the National Center for Support
    to Small and Medium Businesses.

    He said the government has reached agreements also with several
    international organizations which pledged 100 million Dram in
    assistance.

    He said the National Center for Support to Small and Medium Businesses
    plans to help about 3,000 local producers prepare their business plans
    and raise their awareness about their export possibilities. He said
    part of the funds will be spent on showing support to new companies
    in remote areas.

    Another part will be extended as credits to some 20-25 economic
    entities and another 1200 will get concrete help to enter new markets.

    In the first 11 months of 2009 2,465 commercial organizations and
    10,868 private entrepreneurs were registered. Overall there are over
    128,000 small and medium sized businesses, including 60,000 legal
    entities and 68,000 private entrepreneurs. ($1 - 377. 36 Drams).

    From: Emil Lazarian | Ararat NewsPress
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