USAID AND EBRD COMBINE FORCES TO PROVIDE USD 1.64 MILLION TO SMALL AND MEDIUM SIZE ENTERPRISES IN ARMENIA

armradio.am
16.07.2007 13:59

July 16, 2007, Ambassador Rudolf Perina, Chargé d’Affaires a.i. of
the US Embassy, signed an agreement between the US Agency for
International Development (USAID) and European Bank for Reconstruction
and Development (EBRD) in support of the EBRD’s Business Advisory
Services (BAS) program. The BAS Program has two main objectives:
(1) to assist small and medium enterprises (SMEs) in their business
development and (2) to support the professional development of local
business consulting service-providing companies. A minimum of 180
projects are expected to be undertaken with the help of USAID’s
financing. BAS has been operating in Armenia since May 2003 and has
carried out over 365 projects.

Ambassador Perina lauded this new level of cooperation between EBRD
and USAID, highlighting the main goals of the USAID/EBRD three-year
program, which include increasing the number of small and medium
enterprises (SMEs) in Armenia’s rural and poor areas and improving
business productivity and turnover. USAID’s grant will help the
program through 2010.

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