{"id":249433,"date":"2020-07-20T15:47:33","date_gmt":"2020-07-20T15:47:33","guid":{"rendered":"https:\/\/armbanks.am\/2020\/07\/20\/249433\/"},"modified":"2020-07-20T15:47:33","modified_gmt":"2020-07-20T15:47:33","slug":"the-uk-to-provide-assistance-to-business-support-office-in-armenia","status":"publish","type":"post","link":"https:\/\/armbanks.am\/en\/2020\/07\/20\/249433\/","title":{"rendered":"The UK to provide assistance to Business Support Office in Armenia"},"content":{"rendered":"\n

YEREVAN, July 20. \/ARKA\/. <\/strong>The UK Government\u2019s Good Governance Fund (GGF) will be supporting the operation of the EBRD backed Business Support Office (BSO) in Armenia. The GGF will also help the BSO to take forward a series of targeted activities to address the economic impact of Covid-19 on SMEs in Armenia. <\/p>\n\n\n\n

\u201cThe BSO facilitates a platform for policy dialogue between the Government of Armenia and the private sector, as well as providing economic and legal expertise to encourage a more favourable investment climate in which the private sector can flourish,\u201d the European Bank for Reconstruction and Development says in its release. <\/p>\n\n\n\n

The EBRD says the BSO is playing a central role in supporting the Government of Armenia formulate business-supportive economic policy responses to the Covid-19 pandemic, in close coordination with business community representatives. <\/p>\n\n\n\n

The BSO\u2019s activities to help Armenia\u2019s private sector deal with the financial and operational impacts of Covid-19 include: the piloting of a regional agricultural centre to strengthen linkages between producers and buyers; supporting SMEs in adapting their business models; and establishing a seed fund for Armenian start-ups in collaboration with the Investment Support Agency. To date, the BSO has been supported through the EBRD\u2019s Shareholder Special Fund (SSF). <\/p>\n\n\n\n

The BSO works in cooperation with the ministry of economy of Armenia and the Investment Support Centre to identify the key challenges businesses and investors face, while shaping the necessary reforms to address those challenges. <\/p>\n\n\n\n

Dimitri Gvindadze, EBRD head of Armenia, expressed gratitude to the GGF and the British Embassy for supporting the initiative. <\/p>\n\n\n\n

\u201cWe are grateful to our partner GGF and colleagues at the British Embassy in Armenia for supporting this important initiative. The EBRD is strongly committed to supporting Armenia\u2019s reform agenda and to supporting an effective dialogue between the government and private sector. The real economy is the backbone of a well-functioning state and a good investment climate remains essential for the further development of the private sector and economic growth\u201d, he said. <\/p>\n\n\n\n

Ambassador David Moran, British Charg\u00e9 d’Affaires to Armenia, for his part, said: \u2018The UK is pleased to support the Business Support Office through our Good Governance Fund. It will help the Armenian Government in its work to enhance Armenia\u2019s investment potential, strengthen investor confidence and support the country\u2019s recovery from the economic impact of COVID-19.\u201d <\/p>\n\n\n\n

Deputy Minister of Economy Naira Margaryan, in her turn, said: \u201cThe Business Support Office is successfully implementing its role in structuring and implementing Public-Private Dialogue, providing support and expertise in developing reform projects for Armenian business community, and here the BSO is the Ministry\u2019s main partner. We are having a fruitful cooperation and planning more projects in cooperation. We are excited to hear that the UK Government through its Good Governance Fund shall support the office by ensuring the continuity of funding and that will lead to new opportunities for us to cooperate and exercise more joint initiatives.\u201d<\/p>\n\n\n\n

The amount of assistance from the Good Governance Fund (GGF) to the Enterprise Support Office is not indicated.<\/p>\n\n\n\n

The EBRD is Armenia\u2019s leading institutional investor. To this day, the bank has invested AMD 1.5 billion in Armenia under 183 programs to promote the development of the private sector and the transition to a stable “green” economy. – 0–<\/p>\n","protected":false},"excerpt":{"rendered":"

The UK Government\u2019s Good Governance Fund (GGF) will be supporting the operation of the EBRD backed Business Support Office (BSO) in Armenia. The GGF will also help the BSO to take forward a series of targeted activities to address the economic impact of Covid-19 on SMEs in Armenia<\/p>\n","protected":false},"author":1,"featured_media":158429,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","tstyn_error":""},"categories":[9214,9216],"tags":[15837,12879,15183,13321,12688],"class_list":{"0":"post-249433","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-banks-en-en","8":"category-news","9":"tag-armenia-2","10":"tag-assistance","11":"tag-business-support-office","12":"tag-uk","13":"tag-armenia-analyst-inflation"},"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/249433","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/comments?post=249433"}],"version-history":[{"count":0,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/249433\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media\/158429"}],"wp:attachment":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media?parent=249433"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/categories?post=249433"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/tags?post=249433"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}