ArmInfo. The Armenian authorities intend to assist the older generation in developing their potential. At a meeting on November 5, the RA government approved
a program to realize the economic potential of citizens aged 63-72 and support their business initiatives.
Presenting the program, RA Deputy Minister of Economy Aram Khachatryan noted that the document is aimed at those citizens who have professional experience and a desire to engage in business, but lack start-up capital and entrepreneurial skills. The program includes an educational component, allowing applicants to take free courses to gain basic business knowledge and obtain the necessary information for entrepreneurship. The first stage focuses on entrepreneurship in border and highland regions, as well as in rural areas. The program is designed for individuals aged 63-72 who are engaged in entrepreneurial activity or, if selected for participation in the program, who are obligated to obtain the required status before signing the assistance agreement. Applications for assistance can be submitted by individuals who have completed an educational program that meets the program requirements, developed a business plan within the program, and received a valid certificate confirming their entrepreneurial skills. The maximum assistance amount per beneficiary is up to 2 million drams, and the maximum number of beneficiaries covered by the program is up to 200 people. Assistance is provided through banks and credit institutions participating in the program and having entered into an agreement with the authorized body on the implementation of the program, and the approved funds are credited to the target account.
