Credit portfolio of SMEDNC Fund in 2009 made up 506.6 mln drams

As SMEDNC told ArmInfo, 57 loan guarantees to 296.2 mln drams were provided within the frames of this programme over the whole 2009. 47,4% of these subjects are engaged in trade, 24,7% - in production, 24,6% - in services, 3,3% - in construction. In general, the lion's share of the satisfied applications fell on Armenia's regions - over 76,6%, and the rest 23,4% - on the capital. According to the source, the average annual interest rate on credits within the frames of the programme made up 16%, the average size of the credit guarantee - 5.2 mln drams, and the credit - 8.9 mln drams.

SMEDNC Loan Guarantees Provision program is carried out through 7 commercial banks: ACBA-Credit Agricole Bank, "Anelik Bank", Ardshininvestbank, INECOBANK, Armbusinessbank, Armswissbank and VTB Bank (Armenia). To note, SMEDNC Fund, founded in 2002, is the first national structure, authorized to render state assistance to development of Armenia's small and medium entrepreneurship.