Sun, 7 September
18.1 C
Yerevan
USD: 384.03 RUB: 4.80 EUR: 443.29 GEL: 142.29 GBP: 510.11

“SME investments” credit organizations to extend loans worth total of 3bln drams in 2013

YEREVAN, February 5. /ARKA/. SME Investments universal credit organization will extend loans to small and medium business worth a total of 3 billion drams in 2013, executive director of the organization Artur Badalyan told journalists Tuesday.

Loans are provided in national currency to reduce foreign exchange risks for producers. The loan terms are 5-year repayment period, 2-year grace period and an average annual rate of 11%.
In 2012, loans provided by SME Investments amounted to about 3.6bln drams with the amount of one loan ranging between one and fifteen million drams.

The organization provides funds for programs involving new jobs, expansion of production capacities, setting-up of export-oriented production, introduction of innovative technologies, and use of local resources.

In general, SME Investments provided 100 loans worth a total of 6.5bln drams over 3.5 years. Consequently, the organization managed to increase number of jobs in small and medium enterprises by 250. After the funded projects are fully completed, another 200 new jobs will open.

SME Investments was founded in June 2009. Initially it was funding business projects approved by the premier-headed economic development programs office. Later it started involving small and medium businesses that need financing into the program on its own. ($1=406.54drams).–0–

spot_img

POPULAR

Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

“We want the word ‘investor’ in Armenia to mean normality, not elitism” – Freedom Broker Armenia

ARKA news agency spoke with Freedom Broker Armenia Director Ovak Ovakimian about the transformation of investment thinking, company strategy and trust as an economic value.

Ranking of most profitable banks in Armenia based on results of first quarter of 2025

ARKA news agency publishes the ranking of the most profitable commercial banks in Armenia based on the results of the first quarter of 2025.

Net loan portfolio of Armenian banks in Q2 2025 increased by 6.11% to AMD 6.8 trillion

The combined loan portfolio of 17 Armenia-based commercial banks upped  by 6.11% in Q2 2025 compared to Q1 2025, amounting to AMD 6.82 trillion, according to a ranking compiled by  the ARKA news agency.

Cryptocurrency in Armenia: Stringent Regulations and Elevated Expectations

The future of cryptocurrencies in Armenia was a topic of discussion among participants at the Armenian Cryptocurrency Assets Forum, which recently took place in Yerevan.

LATEST NEWS

spot_imgspot_imgspot_img