Government earmarks $100 mln for extending credits to small and mid-scale businesses as part of bailout
31.05.2009,
23:32
Armenian Prime Minister Tigran Sargsyan, speaking Friday in National Assembly, said Armenian Government has earmarked about $100 mln for extending credits to small and mid-scale businesses as part of its anti-crisis program.
YEREVAN, May 31. /ARKA/. Armenian Prime Minister Tigran Sargsyan, speaking Friday in National Assembly, said Armenian Government has earmarked about $100 mln for extending credits to small and mid-scale businesses as part of its anti-crisis program.
“Armenian Government views small and mid-scale business as its top-priority target. That is why it allocates $100 million to support programs in this area”, he said.
The premier said that the Government set up the premier-affiliated anti-crisis group for supporting small and mid-scale businesses by extending credits and guarantees to them as well as participation in companies’ capital.
“More than 20 companies have already used this instrument and the Government’s support. All their information is open, and the program will be implemented transparently.”
Sargsyan also said that the Government has already embarked on housing problem solution in quake-stricken areas.
In particular, about AMD 9 billion was targeted for construction here.
This was planned to spur the economy and create additional jobs.
The premier said that the Government also extended $10-million credit to Zangezur Copper and Molybdenum Combine.
The company has repaid the loan within set terms. Sargsyan said that construction of North-South highway, Iran-Armenia railway and a new nuclear unit is under discussion now. -0—
“Armenian Government views small and mid-scale business as its top-priority target. That is why it allocates $100 million to support programs in this area”, he said.
The premier said that the Government set up the premier-affiliated anti-crisis group for supporting small and mid-scale businesses by extending credits and guarantees to them as well as participation in companies’ capital.
“More than 20 companies have already used this instrument and the Government’s support. All their information is open, and the program will be implemented transparently.”
Sargsyan also said that the Government has already embarked on housing problem solution in quake-stricken areas.
In particular, about AMD 9 billion was targeted for construction here.
This was planned to spur the economy and create additional jobs.
The premier said that the Government also extended $10-million credit to Zangezur Copper and Molybdenum Combine.
The company has repaid the loan within set terms. Sargsyan said that construction of North-South highway, Iran-Armenia railway and a new nuclear unit is under discussion now. -0—
