UNIDO unveils pilot program for young people in two Armenian regions
20.03.2013,
19:40
United Nations Industrial Development Organization (UNIDO) unveiled today a pilot program "Promoting youth entrepreneurship in Armenia", worked out specifically for Lori and Shirak regions of the country.
YEREVAN, March 20. / ARKA /. United Nations Industrial Development Organization (UNIDO) unveiled today a pilot program "Promoting youth entrepreneurship in Armenia", worked out specifically for Lori and Shirak regions of the country.
The program will be implemented in partnership with the government of Austria that will finance it, Armenian ministries of economy and territorial administration, as well as provincial administrations of Lori and Shirak.
Varazdat Karapetyan, head of the Small and Medium-Sized Enterprises Development National center (SMEDNC), said the three-year program is designed to encourage young people between ages of 18 and 35 in their first business steps, as well as to assist them in expanding their businesses.
According to him, the program is open to young entrepreneurs who are either newcomers in business, or those who have been running their businesses for less than 36 months.
He said the National Center will set up a fund for young entrepreneurs to provide them with available loans. UNIDO and the SMEDNC will each contribute to it 200 thousand euros.
Karapetian said the program envisages training courses for about 300 young entrepreneurs, while 80 existing businesses and start-ups will receive financial assistance from the fund in the amount of up to 5 million drams at 10% rate repayable in five years.
Karapetian said if the program proves success, it will be extended to other Armenian regions. Armenia has been cooperating with the United Nations Industrial Development Organization since 1992. ($ 1-416.81 drams).-0-
