Armenian SME National Center focuses on community development in 2012-2013

PanARMENIAN.Net - The Small and Medium Entrepreneurship Development National Center of Armenia (SME DNC) will focus on developing business in the country’s communities for the coming two years, its director said.

“Over the past ten years we got to know what SME is,” SME DNC executive director Varazdat Karapetyan told a press conference organized on April 25 on the occasion of 10th anniversary of Center’s activities.

SME DNC has reviewed the mechanisms for funding over this period to make them more transparent and affordable, Karapetyan said mentioning their center provides loan guarantees up to AMD 3mln with 12% annual interest rate for the period of 3 years, with no pawn required.

Besides, the SME DNC has launched entrepreneurship development in communities through creation of favorable conditions.

Dry fruit production is piloted in Armenia's Tavush province aiming to later become a single brand producing Armenian dried fruits.

As to the SME DNC funding, according to Center 's head they expect to get about AMD 150mln for 2012 from the state budget.

In addition, SME DNC cooperates with international structures to implement various programs promoting the entrepreneurship which allows to increase the budget for 4 times.