"Assistance Programs, Factoring, and Export Insurance for Producers". event

On February 17, an event titled "Assistance Programs, Factoring, and Export Insurance for Producers" took place at "Congress Yerevan" hotel. The event was organized by the Investment Council of Armenia (IC Armenia) in partnership with ArmSwissBank.

The forum brought together several key topics for manufacturing companies, presented by experts from the Investment Council of Armenia, representatives from ArmSwissBank and the Export Insurance Agency of Armenia, as well as the EBRD’s Advice for Small Businesses in Armenia team.

George Akhalkatsi, Head of the European Bank for Reconstruction and Development (EBRD) Yerevan office, delivered the opening remarks. He emphasized the importance of recent reforms and the creation of new opportunities for producers: "Producers are at the heart of Armenia’s economy, and the EBRD stands beside them — not only with financing, but with expertise, reforms, and partnerships that enable sustainable growth and international competitiveness. 

To make finance more accessible, businesses can take advantage of the EU4Business–EBRD Credit Line program through local partner banks, with a cashback incentive of up to 35% upon successful completion of eligible investments. In parallel, important structural reforms recently adopted by the Investment Council of Armenia are opening new horizons for development and sustainable growth. Together, these programs and reforms reflect the EBRD’s broader commitment to enabling SME growth, modernisation, and long-term resilience."

Gevorg Machanyan, CEO of ArmSwissBank, noted in his speech: "ArmSwissBank prioritizes the development of factoring services and export insurance to provide businesses with rapid financing and stable growth. We offer our clients modern solutions to enhance their competitiveness. We aim to make these meetings a continuous platform for strengthening cooperation between the business and financial sectors, ensuring a constant exchange of knowledge and opportunities."

Hovsep Patvakanyan, Head of the Investment Council of Armenia, concluded the opening remarks by stating: "Our goal is to present producers with all available support programs and products that can assist with financing, business expansion, workforce recruitment, the broadening of export routes, and the mitigation of export risks. We are pleased to note that meetings with producers have become more frequent, allowing us to discuss vital developments and new opportunities."

Through these programs and reforms, producers can, for example, access a certification support program for products and companies with 50% cost reimbursement. Additionally, they can apply tax deductions of up to 2.5% of gross income for donations made to state universities or other educational institutions—a move that directly supports their financial stability and developmental potential."

Continuing his speech, he also emphasized the importance of cooperation: "It is vital for us that these events are carried out in collaboration with our partner banks and other financial institutions. On this occasion, we are pleased to partner with ArmSwissBank, highlighting our joint efforts toward the development and success of Armenian producers."