Government approves 150 million drams assistance to small and medium businesses

YEREVAN, January 21, /ARKA/. The government of Armenia has approved
today a 150 million Dram assistance to small and medium businesses.
Economy minister Nerses Yeritsian said the funds will be directed to
securing administrative expenses of the National Center for Support to
Small and Medium Businesses.

He said the government has reached agreements also with several
international organizations which pledged 100 million Dram in
assistance.

He said the National Center for Support to Small and Medium Businesses
plans to help about 3,000 local producers prepare their business plans
and raise their awareness about their export possibilities. He said
part of the funds will be spent on showing support to new companies in
remote areas.

Another part will be extended as credits to some 20-25 economic
entities and another 1200 will get concrete help to enter new markets.

In the first 11 months of 2009 2,465 commercial organizations and
10,868 private entrepreneurs were registered. Overall there are over
128,000 small and medium sized businesses, including 60,000 legal
entities and 68,000 private entrepreneurs. ($1 – 377. 36 Drams).
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