YEREVAN, May 16 (Noyan Tapan). The implementation of the credit guarantees' granting to small and middle-sized enterprises (SME) in Armenia will be started in July, 2003. On the decision of the National Center for Development of Small and Middle-sized Enterprises director the SMEs will be given guarantees amounting to 600,000 drams ((almost $1,020) while on the decision of the Trustees Council of the Center a bigger guarantee (reaching $15,000), the head of the council of trustees of the National Center for development of small and medium-sized enterprises, RA Trade and Economic Development minister Karen Chshmartian said.
The Center CEO Rshtuni Martirosian revealed
in an interview with Noyan Tapan that 50mln. drams of 250mln. drams forwarded
from the state budget for the Center activities will be extended to the issuing
the SMEs' guarantees. The guarantees will be mainly given to the regional SMEs
with the priority being given to enterprises elaborating innovations and in
the investments business. The project will be of an experimental character and
the year 2004 will see it implemented on a larger scale depending on this year
results. The National Center for Development of Small and Medium Business was
set up in 2002.