Today we have marked a significant milestone with the signing of the first contract under Component 1 of the project which focuses on the improvement of the business environment and the enhancement of the competitiveness of the private sector. The contract, signed with the Jinishian Memorial Foundation (JMF), will pave the way for supporting micro, small, and medium enterprises (MSMEs) in the Syunik region.
Through this collaboration, the project will provide comprehensive capacity-building programs and financial support to at least 120 direct beneficiaries, prioritizing women, youth, forcibly displaced persons (FDPs), and people with disabilities (PWDs). The initiative aims to foster the creation/establishment of 34 new businesses, with 30% led by women and 40% by youth, and promote the adoption of sustainable practices by at least 50% of the supported enterprises.
The project will focus on agro-processing, manufacturing, and tourism sectors, ensuring inclusivity and sustainability. It is envisaged that the interventions will contribute to Syunikâs economic diversification, job creation, and income growth, benefiting over 500-600 indirect beneficiaries.
The project also integrates innovative tools such as a Sustainability Toolkit and financial literacy sessions to empower local entrepreneurs with the skills and resources needed to thrive in a competitive market.
As part of the broader R2D Syunik effort, this initiative is a testament to the shared vision of strategic partners to support regional economic stability and resilience.
