YEREVAN, February 15. /ARKA/. United States Agency for International Development (USAID) will grant $17 million to Armenia for supporting small and medium businesses under Enterprise Development & Market Competitiveness Project – EDMC, Armneian Economy Minister Tigran Davtyan said on Wednesday.
The aim of this project is to increase Armenian private sector’s income by bolstering the country’s export capacity. The program’s key targets are IT area, hotel industry, pharmaceutics, biotechnologies and export of agricultural products.
The minister told ARKA News Agency that some details of the project are under discussion, but key targets are selected properly.
“We focus our attention to effective implementation of the project – effectiveness of usage of these investments, not their amount is important,” he said. USAID started its activity in Armenia in 1991.
About $1.4 billion has been transferred to Armenia since then.-0—
