LAS VEGAS (Business Wire)–Citizens of the Republic of Armenia will be able to take advantage of a $100 million entrepreneurial enterprise lending fund spearheaded by former Sen. Bob Dole.
The funds–established by Tracinda Corp. and the Lincy Foundation–will be distributed by an international bank.
"It is an honor to join with Kirk Kerkorian in this program," said Dole."No doubt–this assistance will create countless opportunities for business and economic development. We both know firsthand the spirit and determination of the people who will use these tools to help build a brighter future for the country."
Jim Aljian–chairman of the Lincy Foundation–said that Dole was selected for this project because of his long-standing commitment to the Armenian people.
"This donation is being made during a critical time in Armenia’s history,"said Aljian. "We feel very strongly that entrepreneurs should be allowed every opportunity to test their ideas and contribute to a diverse marketplace. In Armenia–people’s enthusiasm and creativity are being challenged by exorbitant loan rates. We hope these efforts can provide an affordable source of funding and revive the economy."