The European Bank for Reconstruction and Development (EBRD) celebrated the 10th anniversary of the Small Business Support Program in Armenia. The program is financed by the European Union and includes two components-“Business Consulting Services” (BAS) and “Enterprise Growth Program” (EGP).
Within the framework of the BAS program over the past ten years, 5.9 million euros were involved in financing small and medium -sized businesses, 930 projects were implemented, to which local consultants were involved. “The EBRD contributes to the economic development of Armenia, supporting small business enterprises,” said the head of the regional assistance program for the SME EBRD YAAP Spray. Thanks to the BAS program, I noted. Spray, 90% of participating enterprises increased the turnover of companies, more than half noted an increase in the number of employees. The EGP program made it possible to increase its turnover 80% of participating enterprises. “We will continue to support the private sector of Armenia, the women-entrepreneurs and companies operating in the regions will receive special assistance,” I said. Spray.
The head of the EU delegation in Armenia Triana Christ in his speech emphasized that the development of small and medium -sized businesses is a priority for the European Union, in connection with which the EU will continue to support this program. “The development of SMEs is also one of the main directions of the Eastern Partnership program,” t. Christ and added that by the end of the year it is expected to sign an association agreement between Armenia and the EU. He noted that the European Union will pay special attention to the implementation of innovative technologies in local production, in agriculture. Triana Christa indicated that, in addition to the implementation of various programs to support the SME, the efforts of local authorities are needed to create a more favorable business environment.
The head of the representative office of the EBRD in Armenia Valeriu Razlog, in turn, noted that 50% of enterprises registered in Armenia belong to the SMEs and provide 80% of employment in the country, which is a very significant indicator for the European Bank. According to c. Sampling, small and medium -sized businesses need both technical support and the more accessibility of financing, to which the EBRD pays special attention, carrying out programs for financing the SME through commercial banks of Armenia.
Mr. Otlog noted that small business in the regions needs special support. “In this sense, it is significant that 60% of the BAS program enterprises are in rural regions – outside Yerevan and regional centers,” emphasized in. Open.
