ArmInfo.The EU package for Armenia in 2.6 billion euros also provides for the creation of an ecosystem for the development of SMEs. Armenian Minister of Economy Vahan Kerobyan announced this. This program, according to him, is estimated at 500-600 million euros.
"We want to create something akin to an incubator, passing through which SMEs will come out stronger," Kerobyan said, noting that in Armenia only 2 out of 1000 start-up enterprises manage to grow, the rest either remain small or are closed.
Assistance to SMEs, according to the minister, will be provided in three areas: development of vocational education, improving the quality of infrastructures and standards, and increasing financial affordability for start-up businesses.
"This is an ecosystem that will help start-ups at all stages until the business is firmly on two legs," he added.
To note, the EU financial assistance package also includes the following areas: development of women's entrepreneurship, digital agenda, Green Yerevan program, Syunik assistance program, construction of the Kajaran-Sisian section of the North-South transport corridor, improvement of the water system of Armenia, etc.
To recall, according to the program of the Armenian government, the share of small and medium-sized businesses (SMEs) in the republic's GDP from the current 27% will be increased to 55% in 5 years.
