JICA invests $4.5 million in Armenian SMEs

JICA invests $4.5 million in Armenian SMEs

YEREVAN, December 6. /ARKA/. The Japanese International Cooperation Agency (JICA) is providing $4.5 million to support the development of small and medium-sized businesses in Armenia, JICA’s  permanent representative to Georgia Egiri Yukihiko told journalists on Wednesday in Yerevan.  He said the support is provided as part of  the project "Development of local production and promotion of local brands." 

This  project was divided into two stages: the first one was implemented in 2013-2016, and the second is to be carried out in 2016-2019. According to him, in the first stage, about $2 million was invested in the development of SMEs. He said another $2.5 million have been released for the second stage of the project. If necessary, a third stage is possible, he added.

The project is designed to improve the economic situation in the communities of Armenia, to support the development of local production and business. It aims to expand local production and services and promote new brands through localization of the Japanese concept of "One Village, One Product". 

According to Japanese ambassador to Armenia, Eiji Taguchi, his government has provided Armenia  with a total of $450 million assistance over the last 25 years to support Armenia’s economic development.

Taguchi said that the Japanese government’s funds have been used to supply fire fighting and other equipment to Armenia’s ministry of emergency situations and help it manage and reduce disaster risks. The second direction of the cooperation, according to the ambassador, is to help socio-economic development of the country. -0-

16:35 06.12.2017





 

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