YEREVAN, September 22. /ARKA/. As part of a string of assistance measures designed by the government of Armenia to help companies and citizens offset the consequences of the coronavirus crisis, local banks have provided loans to the tune of 119 billion drams, the Union of Banks of Armenia said in a statement.

It said, within the framework of the first and second anti-crisis measures, Armenia-based banks approved of 25,885 loan applications for a total amount of more than 119 billion drams.

According to the Union of Banks of Armenia, within the framework of the first anti-crisis measure, which provides for the provision of soft loans to companies for the purchase of raw materials, equipment, food and medicine, as well as for paying salaries, taxes and utility bills, some 1,209 loan applications for about 76.5 billion drams were approved.

As for the 2nd anti-crisis program, which was designed to support the agriculture, to date 24,676 loan applications for 43.1 billion drams have been approved, it said.

As of September 10, the Armenian government has released 163.4 billion drams (almost $335 million) to help companies and citizens overcome the consequences of the coronavirus crisis.

Overall, the government approved 24 programs. Some were designed to support agriculture, tourism, SMEs, microbusiness, IT and other industries, others - to show financial assistance to various groups of the population. Some of the programs have already been completed, some are still in the process. Meantime,  the government is considering  new opportunities for showing assistance for the citizens. ($1 - 485.26 AMD) -0-