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USAID TO GRANT ARMENIA $3.7 MILLION TO FINANCE FINANCE FOR ECONOMIC DEVELOPMENT PROGRAM
YEREVAN, July 17. /ARKA/. United States Agency for International
Development (USAID) will provide Armenia with $3.7 million to finance
a four-year "Finance for Economic Development" (FED) program designed
to raise the availability of financial resources to the real sector.
USAID Mission chief to Armenia, Karen Hilliard, said at the
presentation of the program that it aims at development and
introduction of financial mechanisms that will reduce lending and
investment risks for small and medium-sized enterprises, especially
in rural areas.
She said the program will help improve the regulatory and institutional
environment and boos the stability of the financial institutions
ahead of enforcement of pension reform.
Deputy economy minister Karine Minasyan said the tasks and objectives
of the program are in tune with the government program to improve
the availability of financial resources.
FED program is designed to stimulate development of the financial
sector of Armenia. The program will expand banks' and lending
organizations possibilities of financing, as well as ensure the
development of debt and equity instruments in the capital markets
through investment funds, diversification and reduction of investment
risks. -0-
- See more at:
http://arka.am/en/news/business/usaid_to_grant_armenia_3_7_million_to_finance_fina nce_for_economic_development_program/#sthash.DmtKOOwZ.dpuf
YEREVAN, July 17. /ARKA/. United States Agency for International
Development (USAID) will provide Armenia with $3.7 million to finance
a four-year "Finance for Economic Development" (FED) program designed
to raise the availability of financial resources to the real sector.
USAID Mission chief to Armenia, Karen Hilliard, said at the
presentation of the program that it aims at development and
introduction of financial mechanisms that will reduce lending and
investment risks for small and medium-sized enterprises, especially
in rural areas.
She said the program will help improve the regulatory and institutional
environment and boos the stability of the financial institutions
ahead of enforcement of pension reform.
Deputy economy minister Karine Minasyan said the tasks and objectives
of the program are in tune with the government program to improve
the availability of financial resources.
FED program is designed to stimulate development of the financial
sector of Armenia. The program will expand banks' and lending
organizations possibilities of financing, as well as ensure the
development of debt and equity instruments in the capital markets
through investment funds, diversification and reduction of investment
risks. -0-
- See more at:
http://arka.am/en/news/business/usaid_to_grant_armenia_3_7_million_to_finance_fina nce_for_economic_development_program/#sthash.DmtKOOwZ.dpuf