The Ministry of Economy of Armenia has presented an analysis of the portfolio formed within the framework of the economic modernization project.
According to the Ministry of Economy, as of March 1, 2024, the portfolio formed under credit leasing agreements concluded between financial organizations and entrepreneurs as part of the economic modernization project amounts to 228 billion drams (about $560 million) across 3 955 agreements.
Over the past 12 months, the average monthly growth of the portfolio amounted to 12 billion drams (about $30 million).
Approximately 65% of the portfolio consists of leasing funds, while the remaining 35% are represented by loans. About 61% of the funds are allocated in Armenian drams, with the rest in foreign currency. Nearly 83% of the total allocated funds are directed towards supporting small and medium-sized businesses. The average contract amount is 58 million drams (approximately 120,000 dollars) with an annual interest rate of 4.5%.
Funds allocated under the project are provided for a period of up to 42 months with a six-month grace period for the repayment of the principal amount.
