The Ministry of Economy Develops Programs for Entrepreneurs Displaced from Artsakh

The Ministry of Economy of Armenia has proposed programs for entrepreneurs forcibly displaced from Nagorno-Karabakh, which have been submitted to the government. This was announced by Deputy Minister of Economy Rafael Gevorgyan during a press briefing of the Government's Humanitarian Center.

He clarified that there will be several new programs under which preferential conditions will be applied for the forcibly displaced: “These programs are also aimed at Armenian producers as part of the economic modernization measures. Essentially, we are talking about subsidized loan conditions. The ministry subsidizes loans and leasing for the provision of machinery and equipment at up to 10 percent. Loans and leasing are provided to those displaced individuals from Artsakh who are looking to purchase machinery and equipment,” the deputy minister stated.

According to Gevorgyan, entrepreneurs forcibly displaced from Nagorno-Karabakh with business interests in construction and manufacturing can benefit from these programs. The deputy minister also noted that one of the programs presented to the government pertains to employment assurance: “People who, during various periods, may have been engaged in the trade of goods and services will have the opportunity to join the labor force in Armenia with various entrepreneurs who are currently experiencing a significant shortage of labor.”

Additionally, the Ministry of Economy has a program for those displaced individuals who wish to engage in agriculture.