YEREVAN, September 24. /ARKA/. Armenian Vice Premier Mher Grigoryan pointed out Thursday the progress in the implementation of the government’s 1st and 2nd programs aimed at cushioning the economic consequences of the coronavirus.

"In general, within the framework of the 1st and 2nd programs, the size of the subsidized portfolio as of yesterday amounted to about 119 billion drams. That is, in fact, we subsidize the loan portfolio in this amount," he said at a government meeting.

The vice-premier said the importance of the decision taken in June, according to which if creditors invest their funds, then they are provided with more favorable conditions for subsidizing.

“As of yesterday, 32 similar applications were received, of which 28 were satisfied. On the satisfied applications, we subsidize a portfolio of 8 billion drams, but here it is more important that the owners have made investments for about 3 billion drams," Grigoryan said.

The first of the anti-crisis programs is aimed at providing business with affordable finance by subsidizing loans on preferential terms. Within the framework of the second program of state assistance, the support of the agricultural sector is also provided by subsidizing loans on preferential terms.

Assistance Programs

As of September 10, 2020, the Armenian government has spent 163.4 billion drams (almost $ 335 million) on 24 programs to overcome the social and economic consequences of the coronavirus. Some of these programs relate to economic support for businesses (agriculture, tourism, SMEs, micro business, IT and other industries), others are aimed at social support of various groups of the population. Another program targets the environment protection.

It became known today morning that the government has launched its 25th anti-crisis program. This program targets transport companies and travel agencies.($1 – AMD 485.42).–0--