The European Union is implementing a project in Armenia to assist labor migrants in the amount of 3.5 million euros.
According to the head of the International Center for the Development of Migration Policy Carel Hofstra, the project implementation period is 4 years, the grant budget is 1.2 million euros. He added that the program is aimed at encouraging migrants to invest money in the Armenian economy.
Support will be provided to both new businesses and existing ones. The program operates throughout Armenia. Beneficiaries will first need to apply and undergo refresher training. Migrants who want to invest their money in business will be provided with a grant for 2,000 to 10,000 euros. Besides, beneficiaries will have the opportunity to use preferential loans.