YEREVAN. – Economic development is the main pillar of the EU support to Armenia, representative of the EU delegation in Armenia told reporters.
Stanislav Toshkov, EU delegation’s international aid officer, said the availability of financing is important for investment companies, as the grants are provided to solve the problems of startups.
His remark came during the launch of the second round of competition for innovative grants that is co-funded by the European Union and the German Federal Ministry for Economic Cooperation and Development (BMZ) and implemented by GIZ’s Private Sector Development in South Caucasus Programme in cooperation with Enterprise Incubator Foundation.
The companies that were provided grants during the first round of the competition have already “seized” the market and have great potential for further development, he said.
GIZ representative for her party said they are sure that with this program they will support startups, and some companies may become serious international players by the end of this program.