WB to launch Access to Finance for Small and Medium Enterprises Project for ArmeniaFebruary 26, 2009 - 20:56 AMT PanARMENIAN.Net - The World Bank Board of Executive Directors has approved Access to Finance for Small and Medium Enterprises Project for Armenia totaling $50 million with a 26.5 year maturity and a 5 year grace aims to improve Armenian small and medium enterprises' access to medium-term finance in an increasingly unstable global financial environment, by improving the ability of farmers and rural entrepreneurs to access markets and by stimulating market-oriented private and public investments in rural areas. The major focus will be to support the continued development of commercial activities in the rural areas by improving market linkages, product quality, competitiveness and capacity of Armenian rural entrepreneurs and producers. Enterprises whose annual turnover doesn't exceed AMD 50 million are eligible for the project. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | International cybercrime ringleaders arrested in Armenia, Ukraine Europol, Europe's crime agency, has arrested four ringleaders of several cybercrime networks that used botnets. Armenia skips CSTO Defense Ministers meeting A meeting of the Council of Defense Ministers of the Collective Security Treaty Organization countries began in Almaty. Armenian, Iranian foreigh policy chief talk over the phone The Foreign Minister of Armenia once again expressed condolences to his counterpart on the death of the President of Iran. Armenia, U.S. customs authorities to boost assistance with new deal The government has approved an agreement with the U.S. government on mutual assistance between the customs authorities. |