Today marked the official closing event for the Support to SME Development in Armenia (EU-SMEDA) Program under the title “Presenting Achievements, Recapping Results”.

The Support to SME Development in Armenia Program was co-financed by the European Union and the Ministry for Economic Cooperation and Development of the Federal Republic of Germany with the sole purpose of contributing to the development of the private sector in Armenia. Throughout the past four years, the Program has not only completely served for implementation of the defined goals, but has also exceeded the earmarked targets.

Deputy Minister of Economy of Armenia Naira Margaryan; Ambassador of the European Union to Armenia, Head of the EU Delegation Andrea Wiktorin; Deputy Ambassador of Germany to Armenia Klaus Vendelberger and GIZ Office Armenia Country Director Anne Kempa delivered their welcoming speeches at the event.

In her welcoming remarks, Deputy Minister of Economy Naira Margaryan expressed gratitude to the European Union and the GIZ’s partners and stated that the cooperation was very successful and effective. During the panel discussions, Naira Margaryan also talked about another successful program organized and implemented through combined efforts for the capacity-building of the employees of the Ministry of Economy.

For over four years, the EU-SMEDA Program has been carried out at different levels and has been aimed at supporting Armenia’s small and medium-sized enterprises. Nearly 3,500 companies and startups have benefited from the Program, which has helped create over 450 new jobs, advancing new ideas and contributing to the creation of added value and more than 150 new businesses.