16:00, 29 August 2009

About 20 percent of Russian credit has reached Armenian enterprises

As stated on August 28 by Tigran Davtyan, Minister of Finance of Armenia, 38.6 billion drams (about 102.6 million US dollars), or about 20 percent of the Russian credit have been already invested into the economy of Armenia.

"It was decided to direct a significant part of the funds into the real sector. The respective decisions have been already made in relation to some 120 billion drams; of them 38.6 billion drams have already reached the managing subjects. We make efforts that the remaining funds also reach the addressees and contribute to the real growth of our economy," the "ArmInfo" quotes Mr Davtyan as saying.

Besides, as reported by the "PanARMENIAN.Net", the Minister has noted that from the start of this year the government of Armenia has allocated 30 million US dollars in dram equivalent to development of small and medium businesses; besides, the crediting programme of the World Bank is underway, to be also spent on development of the national economy.