YEREVAN, October 25. /ARKA/. USAID plans to increase credit provisions for small and medium businesses in Armenia under EDMC/USAID programs to $16mln by September 2013, head of the financial part of EDMC/USAID program Tanner Chaiken said Wednesday.
Since September last year the credit provisions to Armenian small and medium businesses have totalled 7mln dollars , Chaiken said at the discussion of new financing opportunities for small businesses under five-year EDMC/USAID program.
Chaiken also reported that the investments under the program are mainly made in high technologies, food industry, tourism and pharmaceuticals.
From November 2012 a small and medium business training course is to be held under the program in cooperation with Small and Medium Entrepreneurship Development National Center.
The five-year USAID-funded program for Enterprise Development and Market Competitiveness (EDMC) is to develop business environment and small and medium entrepreneurship in Armenia and to increase employment and income level in the country.-0-