IN 2007 WORLD BANK TO ALLOCATE CREDIT RESOURCES OF 80
MILLION DOLLARS FOR ARMENIA'S SMALL AND MEDIUM ENTREPRENEURSHIP
27-12-2006 18:27:00 | Armenia | Economy
YEREVAN, DECEMBER 27, NOYAN TAPAN. In 2006, Armenian farms
received credits of a total of 4 million USD with the assistance
of the World Bank and the International Fund for Agricultural
Development. The credits are provided for a period of up to 5
years and have an annual interest rate of 9.8-10%. The RA
Minister of Agriculture Davit Lokian stated at the December 27
press conference that the credits were given for creation of 291
small and medium enterprises in mountainous areas and on
foothills of Vayots Dzor, Syunika and Tavush marzes. Out of
these enterprises, 96 are meat, milk and fruit processing ones ,
there are also small slaughter-houses which have already been
put into operation.
According to the minister, in 2007 the World Bank will
again provide credit resources of 80 million USD for development
of small and medium entrepreneurship in Armenia.