ADB provides Armenia with $20 million loan

10.10.2013 16:03
ADB provides Armenia with $20 million loan

YEREVAN, October 10. / ARKA /. The Asian Development Bank (ADB) has provided Armenia with a $20 million loan for lending to small and medium-sized businesses , deputy economy minister Karine Minasyan told a government meeting on Thursday.

According to her, the loan is given to Armenia to fulfill its commitment set out in an agreement on the promotion of women entrepreneurship signed by ADB and the government of Armenia in 2012.

"Under this agreement, the Small and Medium Entrepreneurship Development National Center of Armenia is to provide financial assistance to 300 SMEs , 50 % of which must belong to women , or managed by them ," the deputy minister said. The repayment period of the loan is 20 years. -0-

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