YEREVAN, MARCH 18, NOYAN TAPAN. The sums provided by the World Bank and other international financial organizations more contribute to enrichment of Armenian banks than to development of small and medium enterprises, member of "Orinats Yerkir" faction Artsruni Aghajanian said at the National Assembly on March 18. He called on the government to give credits to enterprises without participation of banks, thus ensuring low interest rates of credits. The minister of finance Tigran Davtian said that under conditions of the global financial and economic crisis, the rapid response staff set up at the government provides financial resources to some enterprises, but it is possible only in exceptional cases. On the whole, according to the minister, the provision of loans to small and medium enterprises is outside the government's competence: like in other countries, it is done through the banking system. As regards the fact that banks provide at high interest rates the credits they have received on preferential conditions, the minister noted that their actions are justified, taking into account the risks proceeding from the economic situation in the country. Disagreeing with the minister's arguments, the NA deputy reminded that the U.S. administration allocated 800 billion USD to prevent the consequences of the crisis.

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