Friday, April 20 2012 17:16
World Bank: Over 42% of SMEs in Armenia have access to credit lines
ArmInfo. Over 42% of SMEs in Armenia have access to credit lines, 43.17% have overdrafts, 88.82% have bank accounts, according to the World Bank's Financing of Firms in Developing Countries report.
The report says that 42.52% of young firms (<2 years) in Armenia have access to credit lines, 44.11% have overdrafts, 75% bank accounts. For young firms (<5 years) the respective indices are 37.30%, 32.88% and 88.95%. The lower access to credit lines for the latter group may be indicative of some economic factors preventing young firms' development after the start-up period.
In Azerbaijan the situation is better. In that country the access to credit lines grows along with the growth of a firm: from 11.9% for young firms (<2 years) to 41.21% for young firms (<5 years). In Georgia the indices are 63.28% for young firms (<2 years) and 54.15% for young firms (<5 years). In Russia the access to credit lines for young firms is inadmissibly low - 1.79%, but for young firms (<5 years) it is already 26.07%. In Kazakhstan the respective indices are 4.47% and 25.89%, in Moldova - 67.14% and 36.59%, in Belarus - 75% and 44.27%.
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