ANIF presented financing opportunities to the business community

On July 31, at the invitation of the Mantashov Business Club, ANIF representatives presented to more than 70 member companies the conditions for co-financing the anti-crisis fund operating under the ANIF subsidiary.

As part of the program to mitigate the long-term economic consequences of COVID-19, an anti-crisis investment fund has been set up by 2020 with the appropriate tools, through which entrepreneurs operating in the territory of the Republic of Armenia, may apply both to expand existing business projects and to receive co-financing for the implementation of new investment projects.

The entrepreneurs can apply to the ANIF anti-crisis Fund co-financing program by e-mail info@anif.am, in case the business projects submitted by them meet the conditions of the Fund. Important prerequisites are as follows:

• an entrepreneur must have at least a 51% shares ownership in the project proposed by him;
• an entrepreneur must have an investment equivalent to his share participation in the company.

ANIF anti-crisis investment fund has already started implementing several joint projects in agriculture, industry and healthcare so far. More detailed information about the projects will be available to the public soon.

The co-financing program is based on the support of the Government to an individual in order to activate the economy, increase jobs and further stimulate competitive sectors of the economy. Such initiative is based on the application of the best international experience in Armenia, when in crisis situations the governments offer additional supporting programs to businesses, to a certain extent also sharing the business risk. The participation of an entrepreneur is one of the keys to the viability of the project. ANIF chose this accepted model, having invested its contribution into promising economic projects.

According to Mr Vahram Mirakyan, Head of the Mantashov Business Club: “There is no shortage of business ideas in Armenia today, but especially in crisis situations, financing is one of the priorities for all entrepreneurs. The ANIF model provides businesses with the opportunity to use government support through a joint investment program, which is an accepted financing model. Of course, businesses are free to choose bank loan options for their projects, however I think the possibility of such government participation may be interesting for many of our club members from a financial aspect”.