Armenian banks provide 80 billion drams worth loans to economy to help fight coronavirus crisis
08.09.2020,
17:37
Armenian banks have provided 80 billion drams worth loans as part of government-designed assistance programs to help offset the consequences of the coronavirus crisis, Chairman of the Central Bank Martin Galstyan told reporters on Tuesday.
YEREVAN, September 8. /ARKA/. Armenian banks have provided 80 billion drams worth loans as part of government-designed assistance programs to help offset the consequences of the coronavirus crisis, Chairman of the Central Bank Martin Galstyan told reporters on Tuesday.
According to him, despite the limited sources of financing, the banks continued lending to the economy, also to help ensure the implementation of the government's anti-crisis programs.
“The government programs have become one of the drivers for the banks to keep on lending,”Galstyan said.
He also noted that the number of programs is growing and expanding, and banks are using the opportunity to lend to the economy, but the main problem so far is uncertainty, not lack of funds.
In total, the Armenian authorities have adopted 24 programs to counter the socio-economic consequences of the coronavirus.
Some of the programs were designed to show assistance to agriculture, tourism, SMEs, micro-business, IT and other industries, others - to help various groups of the population.
A number of programs have already been completed, some are still in the process, and the government is discussing new opportunities for assistance for the citizens and is already adopting long-term development programs.
As of August 12, 144.5 billion drams were released by the government within the framework of anti-crisis programs to overcome the consequences of the coronavirus. Of these, 26.2 billion drams were spent on social programs, 17.5 billion drams on economic programs, another 19.9 billion drams were transferred through banks. ($1 - 488.57 drams) -0-
According to him, despite the limited sources of financing, the banks continued lending to the economy, also to help ensure the implementation of the government's anti-crisis programs.
“The government programs have become one of the drivers for the banks to keep on lending,”Galstyan said.
He also noted that the number of programs is growing and expanding, and banks are using the opportunity to lend to the economy, but the main problem so far is uncertainty, not lack of funds.
In total, the Armenian authorities have adopted 24 programs to counter the socio-economic consequences of the coronavirus.
Some of the programs were designed to show assistance to agriculture, tourism, SMEs, micro-business, IT and other industries, others - to help various groups of the population.
A number of programs have already been completed, some are still in the process, and the government is discussing new opportunities for assistance for the citizens and is already adopting long-term development programs.
As of August 12, 144.5 billion drams were released by the government within the framework of anti-crisis programs to overcome the consequences of the coronavirus. Of these, 26.2 billion drams were spent on social programs, 17.5 billion drams on economic programs, another 19.9 billion drams were transferred through banks. ($1 - 488.57 drams) -0-
