More than 500 SMEs receive government assistance in Armenia
29.04.2020,
16:22
More than 500 small and medium-sized businesses in Armenia received government assistance worth 5.7 billion drams as part of its third program designed to counteract the economic consequences of the coronavirus, Minister of Finance Atom Janjughazyan said at an extraordinary parliamentary meeting today.
YEREVAN, April 29. /ARKA/. More than 500 small and medium-sized businesses in Armenia received government assistance worth 5.7 billion drams as part of its third program designed to counteract the economic consequences of the coronavirus, Minister of Finance Atom Janjughazyan said at an extraordinary parliamentary meeting today.
The third program to counteract the economic consequences of coronavirus applies to small businesses and private entrepreneurs, whose turnover in 2019 ranged from 24 million to 500 million drams. Its beneficiaries are those businesses, which for various reasons encountered liquidity problems.
The list includes the processing industry, hotels and the catering sector, tourism, the services , transportation and storage facilities, as well as healthcare. Later it was expanded to involve also preschool education (private kindergartens); sports activities (sports clubs and swimming pools); entertainment (extreme tourism), sports clubs (including the organizers of billiards, table tennis, bowling, etc.) and construction companies.
"The number of beneficiaries of the program is growing regularly, and today all those who meet the requirements apply and receive assistance," said Janjughazyan.
The applicants must not have overdue tax and credit obligations. These companies can apply for a loan in the amount of 10% of their turnover in 2019. The loans are repayable in three years, and the interest rate for the first two years is zero and 12% for the third year.
The Armenian government, in general, approved 14 programs to counteract the economic consequences of coronavirus. Of these, six are designed to show support to agriculture, tourism, SMEs, microbusiness and other industries), and eight to various segments of the population.-0-
The third program to counteract the economic consequences of coronavirus applies to small businesses and private entrepreneurs, whose turnover in 2019 ranged from 24 million to 500 million drams. Its beneficiaries are those businesses, which for various reasons encountered liquidity problems.
The list includes the processing industry, hotels and the catering sector, tourism, the services , transportation and storage facilities, as well as healthcare. Later it was expanded to involve also preschool education (private kindergartens); sports activities (sports clubs and swimming pools); entertainment (extreme tourism), sports clubs (including the organizers of billiards, table tennis, bowling, etc.) and construction companies.
"The number of beneficiaries of the program is growing regularly, and today all those who meet the requirements apply and receive assistance," said Janjughazyan.
The applicants must not have overdue tax and credit obligations. These companies can apply for a loan in the amount of 10% of their turnover in 2019. The loans are repayable in three years, and the interest rate for the first two years is zero and 12% for the third year.
The Armenian government, in general, approved 14 programs to counteract the economic consequences of coronavirus. Of these, six are designed to show support to agriculture, tourism, SMEs, microbusiness and other industries), and eight to various segments of the population.-0-
