The United Nations Industrial Development Organization (UNIDO) will allocate around 680,000 euro to support young entrepreneurs in Armenia.

The direct Government counterpart of the Project is the Ministry of Economy, while the implementing partner is the SME Development National Center (SME-DNC) in Armenia.

The program’s goal is to show that young entrepreneurs can be more reliable beneficiaries and are capable of turning a loan into profitable business.

Unemployment rate among young people reached 38.8 percent which means the youth unemployment remains an important challenge for Armenia’s economic development.