USA ALLOTS MONEY TO CURTAIL POVERTY IN ARMENIA
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[03:10 pm] 16 July, 2007
"We must promote small and medium enterprises (SMEs) to curtail poverty
and to open new markets for medium business," said Ambassador Rudolf
Perina, Charge d’Affaires a.i. of the US Embassy.
On July 16 in the US Embassy, the US Agency for International
Development (USAID) and the European Bank for Reconstruction and
Development (EBRD) signed an agreement in support of the EBRD’s
Business Advisory Services (BAS) programme.
The agreement is aimed at assisting SMEs in Armenia.
In this regard $1,64 million will be alloted to the country. A
minimum of 180 projects are expected to be undertaken with the help
of USAID’s financing.
According to the USAID representative Karl Fikens there are special
mechanisms to check the programme productivity. It is due to mention
that the programme rendered assistance to "Shant," "Tamara" and
"Daroink" companies.
According to the BAS representative companies are chosen on objective
criteria. He ruled out a biased approach to any company.
BAS has been operating in Armenia since May 2003 and has carried out
over 365 projects.