Two Million Euros to Be Spent to Develop Private Sector in Armenia

YEREVAN (Noyan Tapan)–2 million Euro will be spent under the TACIS Subprogram of "Private Sector and Post-privatizational Enterprises Development" in the period from January 17–2000 to July 17–2002. The subprogram organizes technical assistance to enterprises in a number of trends: feasibility studies–market research–business plan development–credit applications–general examination of enterprises and rehabilitation/reconstruction programs.

According to Koriun Danielian–a representative of the French SODETEG organization that carries out the subprogram–there is active cooperation with 20 out of 1,000 registered consulting companies under the subprogram. 549,000 EURO are allocated for this part of the subprogram. Enterprises that apply to consulting companies fund 20% of the consulting work–the rest of the expenses are covered by TACIS.

TACIS allocates up to 10,000 Euro to finance each deal. According to Danielian–at present similar agreemen’s have been signed with seven enterprises. Work is being done to bring the number of agreemen’s up to 200 within the next 30 months.

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