Nearly 6 million euros invested in Armenia’s SME over 10 years as part of EBRD business advisory services
14.05.2013,
21:21
Nearly 6 million euros have been brought to Armenia over the last 10 years to finance small and medium-sized businesses under the European Bank for Reconstruction and Development’s Business Advisory Services (BAS), EBRD head of regional program to promote SME Jaap Sprey said today as he was speaking at a special event marking EBRD’s 10th anniversary in Armenia.
YEREVAN, May 14. / ARKA /. Nearly 6 million euros have been brought to Armenia over the last 10 years to finance small and medium-sized businesses under the European Bank for Reconstruction and Development’s Business Advisory Services (BAS), EBRD head of regional program to promote SME Jaap Sprey said today as he was speaking at a special event marking EBRD’s 10th anniversary in Armenia.
According to him, over ten years 930 projects were implemented on funds attracted from Canada, China, the UK, the U.S. and EBBED Shareholder Special Fund.
Head of the EU Delegation to Armenia, Traian Hristea, noted that development of SMEs is one of the priorities of the European Union.
Hristea said by the end of the year the Association Agreement between Armenia and the EU is expected to be initialed, which, in his opinion, will become the cornerstone for the Armenian economy.
"This means that the Armenian businesses will be forced to re-engineer their businesses to take advantage of the opportunities that will be provided by the agreement", he said.
The Association Agreement stems from the EU’s Eastern Partnership program that offers six former Soviet republics of Armenia, Azerbaijan, Georgia, Belarus, Ukraine and Moldova the prospect of deeper integration with the bloc in return for political and economic reforms. The EU has been Armenia’s leading trading partner and main export market for the past decade.-0-
