EU Investment Fund to be accelerator to small and mid-scale businesses in Armenia
31.10.2016,
11:13
The European Union’s Investment Fund will be an accelerator to small and mid-scale businesses in Armenia, the Head of Cooperation Section in the EU Delegation to Armenia, Hoa-Binh Adjemian, told journalists on Friday.
YEREVAN, October 31. /ARKA/. The European Union’s Investment Fund will be an accelerator to small and mid-scale businesses in Armenia, the Head of Cooperation Section in the EU Delegation to Armenia, Hoa-Binh Adjemian, told journalists on Friday.
In his words, €15 million will come to the fund from the European Union and another €5 million from the European Bank for Reconstruction and Development.
The minimum size of the budget must amount to €25 million, but it is planned to be increased to €50 million, Adjemian said.
The European Union, he said, is looking for private investors now.
An agreement is to be signed between the European Union and the European Bank for Reconstruction and Development later this year.
Adjemian said that the fund will make investments in export-oriented companies operating in various areas.
He said that companies which can’t obtain financial resources from commercial banks will be first-priority beneficiaries.
The fund is planned to be functioning for one to two decades. --0----
In his words, €15 million will come to the fund from the European Union and another €5 million from the European Bank for Reconstruction and Development.
The minimum size of the budget must amount to €25 million, but it is planned to be increased to €50 million, Adjemian said.
The European Union, he said, is looking for private investors now.
An agreement is to be signed between the European Union and the European Bank for Reconstruction and Development later this year.
Adjemian said that the fund will make investments in export-oriented companies operating in various areas.
He said that companies which can’t obtain financial resources from commercial banks will be first-priority beneficiaries.
The fund is planned to be functioning for one to two decades. --0----
