YEREVAN, April 15. /АРКА/. Artur Javadyan, chairman of the Central Bank of Armenia, presented at a meeting convened Tuesday by Prime Minister Nuikol Pashinyan the interim results of the implementation of the 1st and the 2nd measures, aimed at neutralizing the consequences of the coronavirus by promoting businesses and agriculture.

Javadyan said some progress has been made in the implementation of the first measure, and new applications are being received.

“The total number of approved loans at the moment is 214, and the amount is AMD 9.7 billion,” he said. “AMD 828.5 million from these credit resources will be allocated to pay salaries to 2,055 employees.”

As for the second measure, 770 loan applications were approved, of which 479 were microloans granted to the agricultural sector.

"The amount of approved loans is AMD 1.84 billion, where the amount of credit resources already allocated to the agricultural sector is AMD 346.5 million," Javadyan said.

He said referring to the monitoring results that most of the 479 approved agricultural loans are already serving the purpose and have been invested in the economy.
The government of Armenia has approved 12 programs to counteract the economic consequences of coronavirus. Of these, six relate to economic assistance to business (agriculture, tourism, SMEs, micro business and other industries), and other six relate to social support to various groups of the population.

The first direction provides an opportunity for the Armenian business to apply for state support in the amount of up to 500 million drams (about $ 1 million). The tool provides an opportunity to take advantage of the assistance for all legal entities and individuals, private entrepreneurs who have been operating in the country for the past 12 months without limiting areas of activity and with the only condition - they should have a favorable credit and tax history.

The second direction implies the possibility of zeroing the rates on farmer loans in Armenia. The program allies to all individuals and legal entities operating in the agricultural sector, and for its main part it is proposed to reset all interest rates for all various programs in the field.

A state of emergency in order to suppress the spread of the coronavirus operates in Armenia from March 16 to April 14. Restrictions on free movement and certain types of economic activity in Armenia in a state of emergency (previously imposed for the period from March 24 to March 31) were extended until April 12 inclusive. On April 11, it became known that the Armenian authorities extended the state of emergency for another 30 days – until 17:00 May 14, 2020 inclusive, though they expanded the list of the businesses allowed to operate.

The National Center for Disease Control and Prevention reported at 11:00, April 15, Wednesday that the total number of COVID 19 cases has reached 1,111 in Armenia. The center also said in its daily report that there are 297 cured patients and 17 deaths in the country. Some 797 people are now being treated in hospitals. ($1 – AMD 485.52). -0---