Some 800 companies apply for Armenian government assistance


YEREVAN, April 16. /ARKA/. About 800 Armenian companies and organizations have already applied for government assistance provided as part of its anti-crisis programs, Adranik Grigoryan, head of the Central Bank’s Financial Stability Department, told a news conference today.

He said the companies’ goals are quite diverse -payment of wages, buying raw materials and equipment.
Grigoryan explained that the companies want to take advantage of all three instruments proposed by the government – refinancing, co-financing and subsidizing.

“In general, banks have already satisfied about 220 applications, seeking assistance to the tune of about 10 billion drams. I think this is a very good indicator,” he said.

The government of Armenia, in general, approved 12 programs to counteract the economic consequences of coronavirus shock.

Prime Minister Nikol Pashinyan said earlier that at the first stage, 25 billion drams will be allocated to co-finance the loans (to be provided at zero interest rate) which the companies will get to pay salaries, fulfill their tax obligations, pay utility bills, purchase raw materials. He said the bank’s interest will be also subsidized so that it is also at zero rate.


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