ArmInfo.The European Fund for Southern and Eastern Europe (EFSE), together with the Central Bank of Armenia, held a round table in Yerevan for bankers on the topic "Stable financing".
According to the press service of the Central Bank, the heads of Armenian banks gathered to discuss the role of banks in ensuring influence and maximum stability in the provision of financial services to SME business entities.Chairman of the EFSE Council, Christoph Tiskens, noted that 95% of Armenian entrepreneurs are SMEs. "This means that entrepreneurs are not only the driving force of the country's economy, but also the most important source of employment. As a structure in the Eastern Partnership region that promotes SMEs and job creation, we are proud to contribute to creating an enabling environment for this sector, "he said.
In turn, Chairman of the Central Bank of Armenia Artur Javadyan noted that the Fund's portfolio in partner credit organizations is constantly growing, both in absolute and quantitative terms. <Today we can say that we are satisfied with the results of the implemented programs. We hope for further expansion of cooperation, "the head of the CBA stressed.It should be noted that the European Fund for South-Eastern Europe (EFSE) was established in 2005 with the aim of contributing to the development of the economy and general welfare in the countries of South-Eastern Europe, in particular Albania, Armenia, Ukraine, Serbia, Azerbaijan, Belarus, Bosnia and Herzegovina, Bulgaria, Macedonia, Georgia, Kosovo, Moldova, Montenegro, Romania.
The fund provides local financial institutions with long-term subsidies for lending to micro and small enterprises (MMPs), as well as medium-sized enterprises and low-income private households. In general, since its inception, EFSE has directed 922 million euros to finance commercial banks, microfinance institutions, and non-financial institutions, thereby making it possible to issue more than 247,000 loans to MMPs and private households.