Support to SME Development in Armenia

What we do


At the shoe repairing workshop

Small and medium enterprises currently account for 42 percent of GDP of the country and more than 18 percent of all exports. Considering the role and strategic importance of the SME sector for the country’s economic development, in 2002 the Government of Armenia established the “Small and Medium Entrepreneurship Development National Center of Armenia” (SME DNC). Since 2004, UNDP implements a joint project with SME DNC to support SME development in Armenia. 

UNDP develops capacities of SMEs in the country through:

  • Supporting the implementation of the the SME State Support Program;

  • Improving business support services to the SMEs at regional and local levels through introduction of innovative income generation schemes;

  • Developing export opportunities for SMEs; and

  • Providing information and promotional services to the SMEs at central and regional levels.

Some results so far

Start-up business support programs were implemented in all regions of Armenia. Around 290 start-ups received state registration and more than 350 new work places were established. 

273 start-ups received loans in total amount of around 400 mln AMD through the Revolving Fund to support start-up businesses.

B&B cluster development program was implemented in Tavush, Lori and Vayots Dzor regions of Armenia and as a result 72 B&Bs are operating in 21 communities of those regions.

Who Finances it?



Government of Armenia

$ 574,885.71 (for 2010-12)

$ 221,993 (for 2013)

UNDP

$ 450,000 (for 2010-12)

$ 100,000 (for 2013)

Delivery in previous fiscal year

December 31,2010

$ 400,000

December 31,2011

$ 320,000

December 31, 2012

$ 255,000

December 31, 2013

$ 206,938.44

Overview
Status:
active
Project start date:
2004
Estimated end date:
2015
Geographic coverage:
Armenia
Focus Area:
Poverty Reduction
MDG
MDG 1 - Eradicate extreme poverty and hunger
Project Coordinator:
Babken Babayan
Partners:
SME DNC, RA Ministries of Economy and Territorial Administration
Project Related Documents
Annual Workplan