IFAD TO PROVIDE $12 MILLION FOR CREDIT TO MICRO-ENTERPRISES IN ARMENIA

armradio.am
09.01.2008 11:35

The UN International Fund for Agricultural Development (IFAD)
will allocate more than $12 million for crediting of Armenian
micro-enterprises, which have a great potential for growth, Mediamax
reports.

Under the program of ensuring the entry of farmers into market
IFAD will provide credits to those micro-enterprises, which do not
correspond to the accepted requirements for receiving bank credits.

IFAD will allocate $11.9 million in the form of credit and $500
thousand as a grant.

The contenders for credit must prove that their enterprises are capable
to ensure stable growth. Preference will be given to programs with
women’s participation.