The EU is supporting SMEs through 20+ projects in Armenia

Intermediated facility with the Central Bank of the Republic of Armenia (CBA) to support the economic recovery and resilience of the country by enhancing access to financing for micro, small, medium-sized enterprises (MSMEs) and mid-caps.

The regional project, commissioned by the European Commission (EC) and undertaken by the European Bank for Reconstruction and Development (EBRD), aims to facilitate the transition and foster sustainable and equitable economic growth models in the Eastern Partnership (EaP) countries.

The "Creative Accelerator Program" (CAP), initiated by the Armenian General Benevolent Union Armenia (AGBU) and Creative Armenia (CA), aims to revitalize Armenia's creative industry ecosystem, promoting a flourishing creative economy.

The project aims to revitalize the abandoned Soviet sewing factory into DILIJAN FACTORY, a modern space fostering collaboration among enterprises and individuals, stimulating creativity and idea exchange while reducing entrepreneurial risk. The initiative includes renovating the building, establishing production units with market access, creating a Business Support Center, a Coworking Center with Incubator and Accelerator, and a Hospitality Business Association.

The project focuses on initiating public-private partnership discussions in Ijevan, Armenia, with the goal of creating a sustainable environment for fostering innovative entrepreneurship in tourism, high-value agriculture, and food processing sectors.

TUMO Center for Creative Technologies (TUMO) is a dynamic educational hub blending education, creativity, and technology. Since 2011, TUMO has offered a free after-school program empowering teenagers to direct their learning. With over 22,000 students weekly in TUMO centers and TUMO Boxes across Armenia, it provides self-learning activities, workshops, and project labs targeting 14 learning objectives. Expanding its reach to Kapan, TUMO Kapan will be housed in the historic Kapan Railway Station, dating back to 1932.

The “Support to Quality Infrastructure in Armenia” project, developed jointly by UNIDO and the Armenian Government and funded by the European Union, aims to continuously strengthen the NQIS in Armenia, especially the metrology system for trade competitiveness and sustainable industrial development.

The Bank manages multiple tasks, such as aiding Small and Medium Enterprises (SMEs) and improving firm productivity. It aims to help Armenia's Ministry of Economy by analyzing firms to find ways to enhance productivity and job growth. Additionally, it strengthens the National Statistics Agency's ability to collect firm data.

The Mayors for Economic Growth (M4EG) initiative, a partnership between the EU and UNDP, supports mayors and their teams across the Eastern Partnership region.

This project assists Eastern Partner governments in enhancing institutional frameworks, particularly for SMEs. It involves supporting the development of SME strategies, implementing monitoring systems, and fostering public-private dialogue to inform policymaking and monitor reform progress.

Lake Sevan, the largest freshwater lake in the Caucasus Region, serves as a crucial source of water, irrigation, aquaculture, and hydropower in Armenia, directly impacting both environmental health and economic prospects. With backing from the EU Water Initiative (EUWI) Plus, Armenia is crafting its initial River Basin Management Plan for Lake Sevan to enhance long-term water resource management. EU4SEVAN will leverage ongoing efforts and initiatives to bolster environmental safeguards for Lake Sevan, aligning with broader objectives.

The EU for IMPACT Armenia project seeks to enhance the welfare of Armenian labor migrants, returnees, and their families by mobilizing remittances for local development and fostering job creation in Armenia.