USAID and EBRD combine forces to provide USD 1.64 million to small and medium size enterprises in Armenia
Ambassador Rudolf Perina, Charge d'Affaires a.i. of the US Embassy, signed an agreement between the US Agency for International Development (USAID) and European Bank for Reconstruction and Development (EBRD) in support of the EBRD's Business Advisory Services (BAS) program. The BAS Program has two main objectives: (1) to assist small and medium enterprises (SMEs) in their business development and (2) to support the professional development of local business consulting service-providing companies. A minimum of 180 projects are expected to be undertaken with the help of USAID's financing. BAS has been operating in Armenia since May 2003 and has carried out over 365 projects.
Ambassador Perina lauded this new level of cooperation between EBRD and USAID, highlighting the main goals of the USAID/EBRD three-year program, which include increasing the number of small and medium enterprises (SMEs) in Armenia's rural and poor areas and improving business productivity and turnover. USAID's grant will help the program through 2010. -ArmRadio
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