Sat, 19 July
26.1 C
Yerevan
USD: 383.74 RUB: 4.93 EUR: 450.05 GEL: 141.25 GBP: 521.81

“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

Euro falls by 1.14 drams against Armenian dram, as US dollar rises slightly

The average market exchange rate of the US dollar against the Armenian dram as of July 11, 2025, increased by 0.17 points compared to July 10 and amounted to 383.91 drams.

“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.

In Armenia, bad loans worth over $1 million have been written off under the state support program – Ministry of Social Affairs

14,757 applications for writing off bad loans have been received in Armenia within the framework of the relevant state support program, which started on February 1, 2025.

Armenian government approved an agreement with the EIB for 50 million euros for the infrastructure development of Syunik

At a meeting on Thursday, the Armenian government approved a proposal to sign a financial agreement with the European Investment Bank (EIB) “Armenia - Sustainable Syunik Program, Special Investment Window 1 EFSD+” for 50 million euros.

LATEST NEWS

spot_imgspot_imgspot_img