ArmInfo.Within the framework of 2 and 3 state support packages developed by the Ministry of Economy of the Republic of Armenia as anti-crisis measures in connection with the coronavirus pandemic, the procedure for seeking help is established for economic entities. Deputy Minister of Economy of the Republic of Armenia Naira Margaryan announced this on April 1 during a press conference in the Unified InfoCenter.
To recall the 2nd package of anti-crisis measures provides for the zeroing of interest rates for a number of programs previously implemented with state support in agriculture and co-financing for cooperatives (https://finport.am/full_news.php?id=41345&lang=2); The 3rd package is intended for small businesses, the working capital of which during 2019 amounted to 24 to 500 million drams (https://finport.am/full_news.php?id=41346&lang=2).
In particular, according to her, it is possible to apply for assistance in the 3rd package through the website of the Investment Support Center (http://isc.am/), where it will be necessary to fill out the corresponding application. Within 2 days, the economic entity will receive a decision on approval or refusal to provide state aid in case of non-compliance with the required criteria.
It was also noted that in case of questions on working days from 9:00 am to 6:00 pm, you can call the Center's hotline at the following numbers: 8105 and 041010523. At the same time, Margaryan noted that all applications and calls submitted to the Center are registered, and based on the received requests / questions that are analyzed, new anti-crisis measures packages for the business segment will be created.
In turn, Deputy Minister of Economy of Armenia (responsible for agriculture) Arman Khojoyan said that farmers must first contact the financial institution to get a loan at a zero interest rate. In this regard, he recalled that under the interest rate subsidy program, the Ministry is cooperating with 11 banks and 7 credit companies of the Republic of Armenia.
The financial institution, as Khojoyan further explained, sends the list of potential borrowers to the Ministry, which, in the context of the coronavirus pandemic, will conduct seminars in absentia for specific farmers, after which it will provide the appropriate certificate.
In the case of receiving co-financing from the state, the economic entity, as Khojoyan explained, must contact the Ministry online, presenting a passport and a certificate of land ownership (for example, in the case of the greenhouse program). After receiving the application, representatives of the Ministry will pay a visit to this splace at the specified address. The decision is made within 5 days. In the case of confirmation, the economic entity must pass a seminar both in theory and practice.
At the end of the seminar, the farmer receives an appropriate certificate, which gives him the right to build and receive co-financing. To recall, in connection with the coronavirus pandemic in Armenia, the RA government developed 8 packages of anti-crisis measures aimed at supporting business and also socially vulnerable segments of the population.
According to the Prime Minister, the government provides for 25 billion drams for economic assistance, 25 billion drams for social assistance, 80 billion drams for the reorganization of the economy through new programs, and 20 billion drams are reserve funds for possible further allocations.