YEREVAN. - In 2016, the maximal amount of loan to small and medium business will be increased from 5 to 7 million AMD (approx. $14,5000). Upon the proposal of Armenia's Economy Minister Karen Chshmaritian, the decision on this was taken at the session of the Small and Medium Entrepreneurship Development National Center of Armenia, during which the results of 2015 were summed up.  

In the framework of state support, 152,3 million AMD (approx. $315,000) was allocated in 2015 for the loan guarantees and support to start-ups, including in the form of consultations and trainings. About 6,000 beginner and operating economic entities received support, over 95 percent of which covered regions outside the capital.

Specifically, 26 units of agricultural equipment were sold or leased to farmers and organizations at a price which was 30 percent lower than the market one.  And the cost of 4 Niva-Effect harvester-threshers provided by the municipality was partly subsidized from the budget. 

In the framework of the USAID supported project “Partnerships for Rural Prosperity,” infrastructure development projects with the total fund of 113 million AMD (approx $233,000) were implemented in 13 communities.

Technological courses and individual consultations were provided to 67 new producers of dried fruit, as well as operators of greenhouses and cold storage facilities. 25 beginning businessmen received grants in the form of equipment and materials for drying houses, greenhouses and cold storage facilities.  

Programs "Support to SME Development in Armenia" in cooperation with UNDP, "Productive Work for Youth in Armenia" in cooperation with UNIDO, refugee support program in cooperation with the Armenian Office of the UN High Commissioner for Refugees, "Support to Women Entrepreneurship in Armenia" in cooperation with the Asian Development Bank (ADB), as well as a number of other programs with local and international partners continued.  

The joint program implemented with the Japanese international Cooperation Agency (JICA) - “Development of local production and promotion of local brands” - was completed.   

On 10 December 2015, an agreement by which Armenia joined COSME was signed. The budget of the program for 7 countries, including Armenia, is 2,3 billion euro. Access to program co-funding can be received in the framework of the Enterprise Europe Network.