UCO SME Investments in 2017 gave about 20 credits of 1bln AMD

ArmInfo. UCO SME Investments for the recent year gave credits to 50 small and average companies  in Armenia, according to Arthur Badalyan, UCO executive director statement during the press conference in Yerevan on May 17, in the current 2017 UCO has already submitted approximately 20 agriculture subjects on total sum of 1 bln AMD. According to Badalyan, the active assets of credit company by the end of 2016 totaled over 12.5bln AMD, net worth 1.8 bln AMD. In general, as a result of crediting, for the recent 7 years over 850 new jobs were created.

According to UCO representative  loans are given  with a maturity of 7 years,  on average of 12% per annually  and in AMD: for up to 3 to 4 years to replenish the turnover and for 7 years - for capital expenditures, with a grace period of 2 years . Over the recent  4 years, the organization has subsidized loans to exporting enterprises at a rate of 3%, and for enterprises in the border areas, subsidies accounted for 7%.

In order to lend organizations by  more accessible terms, negotiations are being done currently to attract new resources. In addition, under the program of the Ministry of Agriculture for the provision of agricultural machinery to leasing, subsidies are issued at 9% per annum, of which 7% is subsidized. Thus, farmers received the opportunity to purchase agricultural machinery in leasing at a rate of 2% per annum with a maturity of 3-10 years (small equipment - 3 g, tractors - 6, harvesters - 10).

UCO was established in Armenia on August 7, 2009. The main goal of the organization is to promote and stimulate the development of small and medium-sized businesses. The profit of the organization for 2016 was 260 million AMD.