Sat, 2 August
40.1 C
Yerevan
USD: 383.84 RUB: 4.70 EUR: 442.91 GEL: 141.90 GBP: 512.96

Armenian government allocates another AMD 119 billion to cushion economic consequences of COVID-19

YEREVAN, September 24. /ARKA/. Armenian Vice Premier Mher Grigoryan pointed out Thursday the progress in the implementation of the government’s 1st and 2nd programs aimed at cushioning the economic consequences of the coronavirus.

“In general, within the framework of the 1st and 2nd programs, the size of the subsidized portfolio as of yesterday amounted to about 119 billion drams. That is, in fact, we subsidize the loan portfolio in this amount,” he said at a government meeting.

The vice-premier said the importance of the decision taken in June, according to which if creditors invest their funds, then they are provided with more favorable conditions for subsidizing.

“As of yesterday, 32 similar applications were received, of which 28 were satisfied. On the satisfied applications, we subsidize a portfolio of 8 billion drams, but here it is more important that the owners have made investments for about 3 billion drams,” Grigoryan said.

The first of the anti-crisis programs is aimed at providing business with affordable finance by subsidizing loans on preferential terms. Within the framework of the second program of state assistance, the support of the agricultural sector is also provided by subsidizing loans on preferential terms.

Assistance Programs

As of September 10, 2020, the Armenian government has spent 163.4 billion drams (almost $ 335 million) on 24 programs to overcome the social and economic consequences of the coronavirus. Some of these programs relate to economic support for businesses (agriculture, tourism, SMEs, micro business, IT and other industries), others are aimed at social support of various groups of the population. Another program targets the environment protection.

It became known today morning that the government has launched its 25th anti-crisis program. This program targets transport companies and travel agencies.($1 – AMD 485.42).–0–

spot_img

POPULAR

Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

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.

Moody’s upgrades Converse Bank’s ratings

Moody's Ratings has upgraded Converse Bank CJSC's long-term local and foreign currency bank deposit ratings to Ba3 from B1, aligning the Bank’s rating with Armenia’s sovereign rating.

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