Though Armenian banks were struggling to keep the credit percents steady high and the government’s low-cost interstate credits, which circulated in economy by high percents through banking system, weren’t disturbing, from now on the businessmen having especially small and medium businesses will have a chance to take credits by lower 6.5-7%, or maximum 8% rate.
The author of the project is The Forum of Armenian Unions of Europe, which was dealing with important national issues during many years, like the Armenian Trial and other cultural, national, sport issues. From now and on FAUE will provide loans by low rates for effective projects for supporting business in Armenia.
FAUE president Ashot Grigoran mentioned in the interview with “First Armenian News and Analysis” that though this is a new offer, it was probed in Armenia and there are already results, which are supplied by new force, besides a number of Armenian banks already cooperate with the forum. At first the banks were against the lowering of the rates. But Grigoryan thinks that there is no problem in controlling the money, because they won’t be given to Armenian banks for distribution.
