IN 2007 WORLD BANK TO ALLOCATE CREDIT RESOURCES OF 80 MILLION DOLLARS FOR ARMENIA’S SMALL AND MEDIUM ENTREPRENEURSHIP

Noyan Tapan
Dec 27 2006

YEREVAN, DECEMBER 27, NOYAN TAPAN. In 2006, Armenian farms received
credits of a total of 4 million USD with the assistance of the World
Bank and the International Fund for Agricultural Development. The
credits are provided for a period of up to 5 years and have an annual
interest rate of 9.8-10%. The RA Minister of Agriculture Davit Lokian
stated at the December 27 press conference that the credits were
given for creation of 291 small and medium enterprises in mountainous
areas and on foothills of Vayots Dzor, Syunika and Tavush marzes. Out
of these enterprises, 96 are meat, milk and fruit processing ones ,
there are also small slaughter-houses which have already been put into
operation. According to the minister, in 2007 the World Bank will
again provide credit resources of 80 million USD for development of
small and medium entrepreneurship in Armenia.

From: Emil Lazarian | Ararat NewsPress