Mon, 8 September
25.1 C
Yerevan
USD: 384.03 RUB: 4.80 EUR: 443.29 GEL: 142.29 GBP: 510.11

SME Investments uco distributed AMD 6.5 bln in 100 loans in Armenia over 3.5 years

YEREVAN, February 5. /ARKA/. SME Investments universal credit organization injected 6.5 billion drams in 100 loans to support small and medium-sized enterprises in Armenia over 3.5 years, executive director Artur Badalyan told reporters on Tuesday in Yerevan.

In 2012 the organization allocated 3.6 billion drams in credits, he said.

“The remainder of the loan portfolio hit nearly 5 billion drams as of December 31,2012. Industry accounted for 83.2% of loans, agriculture—10.1%, and other spheres accounted for the rest,” Badalyan clarified.

He said the loans are available in the local currency, the maturity period is up to five years. An average interest rate is 11%, the credit amount varies from one to 15 million drams.

Badalyan also highlighted SME Investments organization finances the programs targeted at creation of new jobs, production expansion, export-oriented production development, innovation technology roll-out, and those oriented to using domestic raw materials and resources.

The loan preference is given to the business programs to be implemented in the regions of the country, Badalyan noted.

Nearly 51% of the organization’s loan portfolio is distributed in the regions, according to him.
“As a result of our lending we managed not only to maintain but also increase vacancies by 250 on small and medium-sized enterprises. The job openings rose by 200 as the programs financed by our organizations are completed,” he said.

SME Investments UCO was established in 2009. Initially, the organization financed business programs approved by the Staff supporting Armenia’s economy development programs coordinated by Prime Minister. Afterwards, the organization was authorized to select the programs for financing independently. ($1 – 406.54 drams).—0-

spot_img

POPULAR

Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

ACBA Federation promotes rural tourism in Armenia: the success story of Manana guest house (video)

Four years prior, Astghik Ghazaryan, a professional educator, established the Manana guest house in her hometown of Marmarik.

Freedom Broker Armenia ranks as one of the largest taxpayer in Armenia

Freedom Broker Armenia has been recognized as one of the largest taxpayers in the country, underscoring its leadership in the investment sector and commitment to sustainable business practices.

Armenia to receive 45.3 million euros from ADB to improve healthcare quality

Armenia will receive 45.3 million euros from the Asian Development Bank (ADB) to improve healthcare quality, said First Deputy Minister of Health of the Republic of Armenia Lena Nanushyan during a meeting of the parliamentary standing committee on financial, credit and budgetary issues.

Ranking of Armenia’s most profitable banks in 2024

ARKA news agency has released a ranking of the most profitable commercial banks in Armenia in 2024.

LATEST NEWS

spot_imgspot_imgspot_img