Loan guarantees totaling AMD 626.3 million provided to Armenian SMEs over three quarters
26.10.2015,
11:48
Loan guarantees totaling AMD 626.3 million have been provided to small and mid-scale businesses over three quarters of this year, Gegham Petrosyan, the executive director of the Small and Medium Entrepreneurship Development National Center, said at a session of the center’s council of trustees.
YEREVAN, October 26. /ARKA/. Loan guarantees totaling AMD 626.3 million have been provided to small and mid-scale businesses over three quarters of this year, Gegham Petrosyan, the executive director of the Small and Medium Entrepreneurship Development National Center, said at a session of the center’s council of trustees.
In its news release, the organization's press office quoted Petrosyan as saying that 5,300 small and medium companies used these loan guarantees at the mentioned period.
Petrosyan said 266 business people have taken part in the program of assistance for startup entrepreneurs, 18 companies enjoyed European assistance, more than 490 economic entities had the money they spent on new-generation cash registers fully compensated, 25 businesses received grants and local economy analyses were carried out in 26 communities.
In his words, companies operating in Yerevan made up 4.4% of the all the companies that received assistance over three quarters of this year, and companies in provincial rural and urban communities, including remote and border areas, 95.6%.
Armenian Economy Minister Karen Chshmarityan, who is the chairman of the council of trustees, said SME financing may grow soon in Armenia.
He proposed to discuss and analyze the issue of increase of the loan guarantee amount from AMD 5 million to AMD 7-8 million.
There were 70,000 small and medium enterprises, 58,000 micro and small businesses and 10,000 medium businesses in Armenia in mid-June.
SMEs' share in Armenia’s GDP is 43%, and the sector ensures 5 to 6 percent of the country's tax revenue.
The Small and Medium Entrepreneurship Development National Center was established by the Armenian government in 2002. ($1 – AMD 469.79). ---0----
In its news release, the organization's press office quoted Petrosyan as saying that 5,300 small and medium companies used these loan guarantees at the mentioned period.
Petrosyan said 266 business people have taken part in the program of assistance for startup entrepreneurs, 18 companies enjoyed European assistance, more than 490 economic entities had the money they spent on new-generation cash registers fully compensated, 25 businesses received grants and local economy analyses were carried out in 26 communities.
In his words, companies operating in Yerevan made up 4.4% of the all the companies that received assistance over three quarters of this year, and companies in provincial rural and urban communities, including remote and border areas, 95.6%.
Armenian Economy Minister Karen Chshmarityan, who is the chairman of the council of trustees, said SME financing may grow soon in Armenia.
He proposed to discuss and analyze the issue of increase of the loan guarantee amount from AMD 5 million to AMD 7-8 million.
There were 70,000 small and medium enterprises, 58,000 micro and small businesses and 10,000 medium businesses in Armenia in mid-June.
SMEs' share in Armenia’s GDP is 43%, and the sector ensures 5 to 6 percent of the country's tax revenue.
The Small and Medium Entrepreneurship Development National Center was established by the Armenian government in 2002. ($1 – AMD 469.79). ---0----
