In 2009 “Small and Medium Entrepreneurship Development National Center” fund of Armenia extended support to 4 748 novice and operating small and medium-sized enterprises

YEREVAN, FEBRUARY 17, ARMENPRESS: In 2009 the “Small and Medium Entrepreneurship Development National Center” fund of Armenia extended support to 4 748 novice and operating small and medium-sized enterprises.

Press Secretary of the SME Development National Center of Armenia Siranush Gyurjinyan told Armenpress that 573.5 million Drams have been extended from the 2009 state budget of Armenia for the implementation of the last year’s program on state support to SME. Besides that, means have been involved within the frameworks of cooperation with international, foreign organizations and local self-governing bodies.

According to S. Gyurjinyan, the 71.2 % of the small and medium-sized enterprises (3, 384 enterprises) which were extended support in 2009, received support from the SME National Development Center for the first time.

Nine thousand 370 applications of support were satisfied by the fund last year within the 2009 program on SME state support, in the directions of providing loan privileges, supporting the entrepreneurship of novice businessmen, etc. Within the frameworks of the program on financial and investment support to SME, programs on providing loan privileges, equity financing and partial subsidizing of the loan percentage rage were implemented in 2009.

“SME Investments” universal credit organization CJSC was founded in August, 2009, and implements programs on equity financing and direct loaning. Works have been implemented directed toward extending support to the programs discussed and approved in the operative headquarter of the programs aimed at promoting economic development.

Missions of SME National Development Center have been founded and officially opened in 2009 in Kapan town of Syunik province and Talin town of Aragatsotn province. The employees of the province branches and central office of the SME National Development Center have participated in a number of classes, forums and meetings organized in Japan, Poland, Greece, Turkey, Ukraine, Germany, Sweden and Netherlands.