Armenia to extend subsidy program for industry leasing and loans

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27.12.2024, 13:15

At a meeting on Thursday, the Armenian government approved a decision to extend the program of subsidizing leasing contracts and loans for industry until December 31, 2025. The program had previously been in effect from March 26, 2020, to December 1, 2024.

Armenia to extend subsidy program for industry leasing and loans

YEREVAN, December 27. /ARKA/. At a meeting on Thursday, the Armenian government approved a decision to extend the program of subsidizing leasing contracts and loans for industry until December 31, 2025. The program had previously been in effect from March 26, 2020, to December 1, 2024.

Armenian Economy Minister Gevorg Papoyan stated that the government subsidized interest payments ranging from 6% to 10% for companies that entered into contracts to purchase the latest high-tech equipment.

He also mentioned that 6,559 contracts worth 341.8 billion drams were signed under the program, with 80% of the funds directed toward subsidizing small and medium-sized businesses. ($1 = 396.18 drams)

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