News/Press

Yerevan, June 9, 2020 – The European Union, through its EU4Business “Innovative Tourism for Armenia” project implemented by German Development Cooperation GIZ announces the EU4Business Innovative Tourism Action Grants in Times of Covid-19 Scheme for Armenia’s tourism industry for doing business in these times. Support provided through EU4Business Innovative Tourism Action Grants aims to increase...
Armenia 8,923 beneficiaries received a total of 1.7 billion AMD (more than US$ 3.5 million) from the Armenian government within the 18th measure aiming to pay every fifth employee’s salary to those employers and companies that have saved their jobs and payroll amount during the Covid-19 pandemic. Read More 19th measure to neutralize Covid-19 economic consequences in Armenia is to assist the...
In the wake of the global coronavirus pandemic, the resilience of small and medium enterprises has been put to the ultimate test. The EU4Business team perfectly understand that SMEs face challenges to keep their business afloat. Entrepreneurs find it difficult to regularly adapt to newly-emerging regulations and market requirements, maintain the workforce, seek investments and continue operations...
Armenia The state of emergency in Armenia is extended for 30 days till June 13, while financial and economic activities can be undertaken under specific conditions. Read More A total of 84.4 billion AMD (about US$ 175 million) have been distributed by the government as of May 16, 2020 to 48,400 legal entities and more than 1 million individuals. With the 3rd measure dedicated to SMEs, the...
The European Union and Viva-MTS support New Startup Growth Programme by Armenia Startup Academy
We are pleased to announce the call for applications for the first Traction programme of Armenia Startup Academy - a 10-week mentorship-based programme designed to help companies at post-prototype stage with early traction to accelerate their growth and raise their first or follow-on rounds. The programme is implemented by Catalyst Foundation supported by the European Union’s EU4Business “...
Armenia About 14,000 economic entities (93.3% of the potential beneficiaries) with 2 to 50 employees received a total of about 2.2 billion AMD (about US$ 4.5 million) as the result of the measure aimed at mitigating the economic circumstances of Covid-19, according to the State Revenue Committee. Read More 70.3 billion AMD (about US$ 145 million) was distributed through 17 actions of the...
Armenia From May 4, 2020 vast majority of businesses including cafes and restaurants are allowed to resume their work exclusively in the open-air areas. There could be a return to the strict regime in case of aggravation of the situation. Read More Some 24,000 business entities have been already assisted by the Government of Armenia. Over 62 billion AMD (about US$ 128 million) had been provided...
Armenia 167 loan applications from SMEs worth 1.6 billion AMD (about US$ 3.3 million) have been approved as of April 16, 2020. Under the effective job support measure for entities with 2-50 employees, another 1.2 billion AMD (about US$ 2.5 million) was disbursed as one-time grants. Read More The Asian Development Bank predicts 2.2% economic growth for Armenia , the World Bank keeps it lower – 1.7...
Armenia The Government reopened some sectors of the economy . While Armenia extended the state of emergency for another 30 days restricting movement of people, it relaxed some industries such as open-air construction and cigarette manufacturing. Read More The Armenian economy loses 51 million USD daily because of the coronavirus. During the first month of the state of emergency Armenia will lose...
Armenia The spread of coronavirus disease "due to anti-epidemic measures will significantly reduce Armenia's economic growth in 2020," the CB analysts said. In 2020, economic growth will be 0.7% and will recover in 2021, reaching 7.2%. https://bit.ly/civilnet-am Coronavirus caused $134 million damage to the tourism industry of Armenia in the first quarter of 2020. The State Tourism Committee...