Wednesday, April 1 2020 15:22
Alina Hovhannisyan

Ministry of Economy presented procedure for applying for assistance  in framework of 2 and 3 packages of anti-crisis measures

Ministry of Economy presented procedure for applying for assistance  in framework of 2 and 3 packages of anti-crisis measures

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.

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