Minister of Economy of Armenia Vaan Kerobyan said about this during the welcome speech at the II forum of the Buy Armenian platform.
Creation of the SME Development Bank, as explained by the minister, will help the business at the initial stage - in the most vulnerable period, after which it will be easier to grow. In particular, at the Development Bank, a small business that has a good idea will go through an educational stage with the involvement of mentors, coaches, after which a business plan will be drawn up, which will be sent to banks for partial financing, the remaining part of the funds will be provided by the SME Development Bank. Kerobyan expressed hope that the government will accept this project soon.
According to the Ministry of Economy of Armenia, the share of MSB in GDP of Armenia is about 27%. The agency plans to bring this indicator up to 50% within the next 5 years.