Armenia - Micro-enterprise Development

The micro-enterprise development (MED) project has sought to enhance the self-sufficiency and integration of returnees, refugees, and displaced persons through the provision of micro-enterprise training, business credit for self-employment and employment opportunities. Women and low income persons have also qualified as a focus group in order to increase their self-sufficiency and thereby reduce migratory pressures.

The preparatory stage of the project was from July to September 1997, followed by a pilot phase up to March 1998, after which the main phase commenced. This project has sought to increase beneficiary coverage by over 1200 families (or approximately 4800 persons) in existing locations as well as to new areas, where there is a large concentration of the target group.

This contribution of USD 30,000 was allocated to cover the interim operational costs related to transforming itself into a locally registered and financially sustainable lending entity (foundation).