YEREVAN, March 7. /ARKA/. Speaking at the official launch of Women in Business program, designed by the European Bank for Reconstruction and Development (EBRD) to support women-led small and medium-sized enterprises (SMEs) in several former Soviet republics, included in EU’s Eastern Partnership program, the head of the EU Delegation to Armenia, Ambassador Peter Switalski noted that Armenia has been one of the first states in the Neighborhood Policy countries, making use of the EBRD program.

“The EU believes that Armenia women along with the younger generation are obliged to fulfill their role as a driving force for Armenia’s economy, while the European Union will continue to make new investments in the sphere,” Peter Switalski said.

‘The availability of financial resources is the "Achilles' heel" in Armenia, especially given the large gap between interest rates and inflation, which makes payment of loans for many entrepreneurs simply impossible, "Switalski said.

According to the Central Bank, in January 2017, interest rates on loans repayable in 12 and less months was 16.49%, the rate for loans in USD was 10.68%. According to the National Statistical Service, in January-February, Armenia registered a deflation of 0.4%.

To remind, Ameriabank and AGBA Credit Agricole Bank joined the Women in Business program in late 2016, while Ararat Bank became a partner organization at today’s event. -0-