Business loans project for young families living in regions

37 percent of young people in Armenia have employment problems. RA Sports and Youth Affairs Deputy Minister Arsen Karamyan told it during Armenian Youth Foundation conference. The data is from the recent studies of the Ministry.

He said that the Ministry can’t handle the youth employment problem alone within 1-2 months (and it isn’t its problem) as it is connected with general economy increase.

At the same time Arsen Karamyan informed that Sports and Youth Affairs Ministry introduced a project of giving business loans to young families living in the regions to the Government. According to that project, those families will get till 10 millions AMD worth loans on preferential terms.

“It will correct the situation somehow,”- said Arsen Karamyan. He thinks that this project will become Government decision in a month, which will be implemented from January 1, 2015.

According to the Deputy President, the problems and the migration rates of young people in the regions are bigger than in Yerevan. Yerevan gives much more opportunities.

Arsen Karamyan thinks that the high rates of unemployment are contributed by the educational field. There is mania of getting higher education in Armenia. Every year many lawyers graduate from universities, but nobody wants to become a crane-driver or tinker, whereas there is need for them in the working market.