YEREVAN, March 1. /ARKA/. SME Investments credit organization of Armenia’s ministry of economy will allocate 6.6bln drams for small and medium businesses in 2013, head of the ministry’s SME development Armen Yeghanyan said.
Apart from the funds of the organization, about 778mln drams will be provided by the SME crediting fund and around 150 million drams from the state budget in 2013, Yeghanyan said.
In 2012, the organization extended loans to some 60 small and medium enterprises.
This year the government is planning to promote new SME and introduce new tools to assess production resources in the country’s regions and support production chains, Yeghanyan said,
The head of department also said that three new ideal business models are expected to be designed, which will allow to create about 30 new enterprises.
“Last year a pilot project on business models was implemented and one of its successes was the opening of several dried fruit production enterprises in
the regions”, Yeghanyan said.
According to the ministry of economy, about 98bln drams were allocated for SME development in Armenia in 2007-2012. There are currently about 60,000 companies in Armenia, 92% of which are small and medium-sized. ($1=409.22drams). –0--