More than 800 small and medium-sized companies in Armenia provided with soft loans worth 9 billion drams

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YEREVAN, June 9. /ARKA/. More than 800 small and medium-sized companies in Armenia were provided with soft loans to the tune of nine billion drams, Economy Minister Tigran Khachatryan told Parliament today.

He noted that one of the government’s goals is to make Armenian companies more recognizable and to this end it assisted many of them to showcase their products and services at various exhibitions in 2019.

According to him, the government employs other assistance tools as well such as exemption from taxes and duties, deferment of VAT payment, assistance to start-ups, provision of state guarantees of up to 5 million drams for attraction of soft loans.

The minister emphasized that the authorities are doing everything possible to improve the business and investment environment, which, inter alia, will improve the country’s indices in international ratings, including in the Doing Business.

The Armenian government, in general, approved 19 assistance programs to counteract the economic consequences of coronavirus. Nine are designed to show assistance to agriculture, tourism, SMEs, microbusiness, IT and other industries and the rest -to various groups of the population.

Prime Minister Nikol Pashinyan stated on June 4 that so far 51,800 business entities and more than 1.1 million individuals were provided with 100.4 billion drams worth assistance. ($1 – 481.42 drams).

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