AMD 947 million already lent to small businesses in Armenia under government’s anti-crisis programs
15.04.2020,
11:54
Armenian Economy Minister Tigran Khachatryan and Chairman of the State Revenue Committee Davit Ananyan at a meeting held on Tuesday with the Prime Minister of Armenia Nikol Pashinyan reported on the process of implementing the 3rd and 5th measures implied in the government’s package of anti-crisis programs to overcome the economic consequences of coronavirus, the press service of the government reported on Tuesday.
YEREVAN, April 15. /АРКА/. Armenian Economy Minister Tigran Khachatryan and Chairman of the State Revenue Committee Davit Ananyan at a meeting held on Tuesday with the Prime Minister of Armenia Nikol Pashinyan reported on the process of implementing the 3rd and 5th measures implied in the government’s package of anti-crisis programs to overcome the economic consequences of coronavirus, the press service of the government reported on Tuesday.
Under the third anti-crisis program, the Armenian authorities will offer small businesses an unprecedented facilitated lending procedure in the amount of AMD 2.5 million to AMD 50 million. The measures are focused on small businesses, since their main criterion is sales turnover for 2019. In particular, the beneficiaries of the program will be organizations with sales turnover from AMD 24 million to AMD 500 million in 2019.
Khachatryan said 102 applications totaling AMD 947 million have already been approved. In addition, the draft amendments to a number of criteria for applications for state support were put into force, and thanks to their adoption, credit resources are expected to increase by another AMD 700-800 million.
The fifth measure implies that Armenian companies that did not lay off employees and retained salaries, despite the state of emergency, will receive financial assistance from the government. The program will apply also to small businesses, because those organizations with 2 to 50 employees must use the support tool.
For his part, Davit Ananyan said referring to the results of monitoring of the information provided that the beneficiaries of the measure are 6149 business entities already. The total payment amount is AMD 937.3 million.
The government of Armenia, in general, approved 12 programs to counteract the economic consequences of coronavirus. Of these, six relate to economic assistance to business (agriculture, tourism, SMEs, micro business and other industries), and other six relate to social support to various groups of the population.
A state of emergency in order to suppress the spread of the coronavirus operates in Armenia from March 16 to April 14. Restrictions on free movement and certain types of economic activity in Armenia in a state of emergency (previously imposed for the period from March 24 to March 31) were extended until April 12 inclusive. On April 11, it became known that the Armenian authorities extended the state of emergency for another 30 days – until 17:00 May 14, 2020 inclusive, though they expanded the list of the businesses allowed to operate.
The National Center for Disease Control and Prevention reported at 11:00, April 15, Wednesday that the total number of COVID 19 cases has reached 1,111 in Armenia.
This means that there are 44 new confirmed cases of infection with COVID 19, compared with yesterday’s report. The center also said in its daily report that there are 297 cured patients and 17 deaths in the country. In total, 9,095 tests have been carried out for COVID 19. Some 797 people are now being treated in hospitals. -0---
Under the third anti-crisis program, the Armenian authorities will offer small businesses an unprecedented facilitated lending procedure in the amount of AMD 2.5 million to AMD 50 million. The measures are focused on small businesses, since their main criterion is sales turnover for 2019. In particular, the beneficiaries of the program will be organizations with sales turnover from AMD 24 million to AMD 500 million in 2019.
Khachatryan said 102 applications totaling AMD 947 million have already been approved. In addition, the draft amendments to a number of criteria for applications for state support were put into force, and thanks to their adoption, credit resources are expected to increase by another AMD 700-800 million.
The fifth measure implies that Armenian companies that did not lay off employees and retained salaries, despite the state of emergency, will receive financial assistance from the government. The program will apply also to small businesses, because those organizations with 2 to 50 employees must use the support tool.
For his part, Davit Ananyan said referring to the results of monitoring of the information provided that the beneficiaries of the measure are 6149 business entities already. The total payment amount is AMD 937.3 million.
The government of Armenia, in general, approved 12 programs to counteract the economic consequences of coronavirus. Of these, six relate to economic assistance to business (agriculture, tourism, SMEs, micro business and other industries), and other six relate to social support to various groups of the population.
A state of emergency in order to suppress the spread of the coronavirus operates in Armenia from March 16 to April 14. Restrictions on free movement and certain types of economic activity in Armenia in a state of emergency (previously imposed for the period from March 24 to March 31) were extended until April 12 inclusive. On April 11, it became known that the Armenian authorities extended the state of emergency for another 30 days – until 17:00 May 14, 2020 inclusive, though they expanded the list of the businesses allowed to operate.
The National Center for Disease Control and Prevention reported at 11:00, April 15, Wednesday that the total number of COVID 19 cases has reached 1,111 in Armenia.
This means that there are 44 new confirmed cases of infection with COVID 19, compared with yesterday’s report. The center also said in its daily report that there are 297 cured patients and 17 deaths in the country. In total, 9,095 tests have been carried out for COVID 19. Some 797 people are now being treated in hospitals. -0---
