Allocates Additional $ 2.65 Million to Strengthen Armenia`s Agricultural Sector

ArmInfo.The United States Agency for International  Development (USAID) announced additional funding of $ 2.65 million to strengthen Armenia's  agricultural sector, including more targeted support for women entrepreneurs and the creation  of cooperatives.

Thus, according to USAID, the above funds will be poured into two ongoing projects implemented  in this area in Armenia.

The USAID Rural Economic Development Project - New Economic Opportunities (RED-NEO), launched in February 2019, reportedly received an additional $ 1.15 million, bringing the total project amount to $ 5.15 million. The project will use these additional funds to empower women and expand entrepreneurship opportunities in rural areas; and build the capacity and commitment of stakeholders to remove barriers to women's economic leadership.

These efforts will complement RED-NEO's ongoing  efforts to strengthen value chains in horticulture and viticulture in Armenia. Participants who have  completed the program can apply for small grants to modernize their manufacturing facilities. To date,  the project has disbursed 29 in-kind grants, and a total of over 100 grants will be awarded over the  life of the project. RED-NEO's support accounted for more than 11% of grant recipients' income in  2020 on average.

With this additional funding, RED-NEO will work to close the economic gender gap and equip women in  the agricultural sector with business skills, including management, finance, forecasting and marketing.

“Closing the economic gender gap is an important opportunity for Armenia: according to one estimate,  the country could increase its GDP by 14 percent annually if women were allowed to enter the labor market  to the extent that they wanted. a mentoring program has been created to develop new partnerships and strengthen existing networks among women entrepreneurs, students, business associations and other organizations, "the US agency said in a statement.

It is also highlighted that USAID is also providing an additional $ 1.5 million for the Innovative Agricultural Training Camp (AGRI CAMP) project to strengthen formal agricultural cooperatives and business development and increase women's access to agricultural innovation.

The total amount of financing for the project, thus, will amount to $ 1.9 million. AGRI CAMP, launched  in May 2020, is renovating the premises of the Armenian National Agrarian University in Kotayk region,  where entrepreneurs from rural Armenia will gain new skills to expand their business and increase the  level of complexity of their production.

With this additional funding, AGRI CAMP will strengthen the skills and networks of women agricultural  entrepreneurs, bringing together technicians, entrepreneurs and engineers to develop innovative solutions  for agriculture (for example, using advanced irrigation technologies to maximize yields with minimal  use of water and fertilizer).

AGRI CAMP expects that by April 30, 2023, at least 1000 women farmers will be better able to use new  farming methods and technologies, ultimately leading to increased business and household incomes.