ArmInfo. The Armenian government at its May 27 meeting approved the 19th program of measures to neutralize the economic consequences of COVID-19.
As the Minister of Economy of the Republic of Armenia Tigran Khachatryan noted in his speech, this program is aimed at rendering assistance to citizens and individual business entities. In particular, for start-up companies, the use of a grant component is envisaged to increase knowledge in the field of business and ensure financial accessibility.
Those entities that have become beneficiaries of the program and have proven the viability of their projects, in the second stage will be able to rely on preferential credit resources in order to develop their business and apply innovative ideas. There are exceptions. In particular, the beneficiaries of the program may not be such types of economic activities as financial services, gaming, wholesale. At the same time, the state assistance program will be extended exclusively to economic activities outside Yerevan. The state will fully compensate for the introduction of collateral.
Loans will be provided in national currency - drams, for a period of 60 months with a grace period for payments in the first six months and an interest rate of 7% -10%, depending on the term of the decision. According to preliminary data, annually 250 beneficiaries will be able to use the new program. Given that the program is designed for years, it follows that more than 1 thousand participants will be involved in it.
