ArmInfo.The Ministry of Economy of the Republic of Armenia, in cooperation with the Center for Investment Promotion Fund, launched the subprogram "Grants for the Development of Exporters" within the framework of the World Bank-funded Trade Facilitation and Infrastructure Quality Program.
According to the press service of the Ministry of Economy of the Republic of Armenia, the goal of the grant subprograms is to develop exports by creating resource sharing centers (logistics centers, vehicles, marketing services, production centers, etc.). Subprograms are aimed at expanding the capabilities of small and medium-sized businesses by expanding their production, trade and export opportunities. The competition is open to all sectors with high export potential, but priority will be given to agriculture, food and textile industries. In Yerevan and the regions, a number of informational events were held for this project aimed at resolving issues arising in the value chain of the export product in order to present the project content, eligibility criteria, application evaluation procedure and other information. The deadline for applications is March 20.
Recall that earlier the World Bank Board of Directors approved the provision of a loan of $ 50 million to Armenia within the framework of financing the program "Trade Promotion and Quality Infrastructure". The total funding of the program is $ 59.54 million, of which $ 9.54 million falls on the share of the Armenian government. The World Bank will provide an IBRD loan of $ 50 million with a floating interest rate, maturity of 25 years and a 10-year grace period. The program aims to strengthen the government's ability to improve the quality of services in order to stimulate exports, attract local and foreign investment and expand the business. The program provides for the use of a grant subprogram "Development of Exporters", which will be implemented by the Center for Investment Promotion.
