Economic Development

JMF’s Economic Development Department emphasizes activities and projects that expand the economic opportunities for the underprivileged by providing sustainable financial services.

JMF has set the following strategic objectives to meet the demand of program beneficiaries:

  • Increase beneficiaries’ access to micro credit services
  • Enhance institutional lending services
  • Increase the educational level of borrowers

JMF also prioritizes economic development activities that:

  • Assist appropriate non-financial business development services that build the capacity of small entrepreneurs to establish and manage businesses.
  • Improve the employability of vulnerable populations by supporting activities, such as vocational and technical training.
  • Support the successful small businesses and industries that have the potential for growth and opportunity to provide employment for vulnerable groups.
Improving Economic Well-being and Resilience of Forcibly Displaced Armenian Families from Artsakh

Beneficiaries Description: At least 40 forcibly displaced Armenian families from Artsakh, currently residing in Gegharkunik region of Armenia, to become self-reliant by engaging them into an agricultural or other income generating activity through provision of livelihood assets (physical, human and financial) and possible access to housing. 

Youth Business Armenia 2024

Beneficiaries Description:

Annual Target:
- At least 100 young people ages 18-35 will participate in business idea generation and orientation sessions from the targeted regions
- At least 50 young people out of the above mentioned 100 will participate in business planning trainings from the targeted regions
- At least 15 young people out of this cohort will receive subsidized loans to start or scale-up their business. 
- At least 20 young people will proceed with their businesses receiving ongoing support
YBI’s Sustainability Toolkit

Beneficiaries Description: 
Direct: at least 10 entrepreneurs during the project period will pilot the YBI Sustainability Toolkit co-created by YBI members focusing on environment, social and governance issues.
Indirect: at least 50 entrepreneurs each year will benefit from the designed Toolkit which will be incorporated in the learning modules. 

Unlocking the Potential of Women in social Entrepreneurship (U.POWER_ERASMUS+)

Beneficiaries Description: 

Train 8 adult educators on MOOC 7 modules (video courses)

- 30 women per partner country testing the MOOC
- 16 women per partner country involved in coaching sessions
- 7 pilot testing phases
- 8 adult educators in the ToT

Entrepreneurs Sharing and Training Network 3 - Erasmus for Young Entrepreneurs

Beneficiaries Description: to reach at least 36 successful exchanges including both new and host entrepreneurs and to enroll at least 82 entrepreneurs in the IT TOOL

Digital Skill Enrichment of Aspiring and Acting Women Entrepreneurs in Armenia

Beneficiaries Description: at least 20 aspiring and 40 current women entrepreneurs in Armenia – in total 60 women

Skill Building of Rural Farmers for Effective & Innovative Greenhouse Management

Beneficiaries Description: at least 80 disadvantaged small-scale farmers residing in the regions of Armenia (either already owning a small greenhouse or willing to construct one (up to 1000 m2)) on advanced technologies in greenhouse management through a series of online trainings and workshops.

Digital Skill Enrichment of Women Entrepreneurs in Armenia

Beneficiaries Description: At least 50 women entrepreneurs primarily residing in the remote regions of Armenia

Digital Accelerator 2022

Beneficiaries Description: Within the "Digital Accelerator 2022" Programme, YBI is helping JMF to incorporate digitalization in a way that the most effectively supports in achievement of its goals

 

Engineering ARMAT Lab Establishment in Batumi

Beneficiaries Description: 36 schoolchildren ages 12-18 and young adults from Batumi city of Georgia 

IT Skill Enrichment of Young People to Create Employment in the Regions of Armenia

Beneficiaries Description: at least 50 motivated 18-45 ages people willing to have potential to become IT specialists from two regions (to be later specified) of Armenia. 

Youth Business Armenia 2021-2023

Beneficiaries Description:

- At least 80 young people ages 18-35 will participate in business idea generation and orientation sessions in 5 targeted regions
- At least 50 young people out of the above mentioned 80 will participate in business planning trainings in 5 targeted regions
- At least 15 young people out of this cohort will receive subsidized loans to start or scale-up their business.
- At least 20 young people will proceed with their businesses receiving ongoing support

Emergency COVID-19 Support to Rural Businesses in Armenia Project

Beneficiaries Description: the initiative will train 50 selected small enterprises in setting COVID-19 specific safety measures and provide expert consultancy to carry out individual rehabilitation plans to address the current business problems. The project will award emergency grants to 15 enterprises, whose sole survival depends on that financial aid.

Improving Digital Literacy of People Impacted by COVID 19

Beneficiaries Description: At least 50 people from all regions of Armenia 

Beekeeping Development in Alaverdi Region

Beneficiaries Description: 19 young people willing to run a beekeeping business

Erasmus for Young Entrepreneurs (EYE)

Beneficiaries Description: Engaging 20 new Entrepreneurs to be either hosted in Armenia or to be sent to the project partner European countries. In total recruit 51 entrepreneurs from Armenia to benefit the project through different tools

IT & Entrepreneurial Skill Enrichment of Unemployed Population to Boost Regional Economic Development

Beneficiaries Description: 100 adults ages 18-50 from  4 (four) regions of Armenia 

Youth Business Armenia 2019-2022

Beneficiaries Description: About 100 young people from Gegharkunik, Lori, Shirak, Tavush and Syunik regions of Armenia to be benefited from the initial business idea generation and development training, out of which 30-50 will be engaged into business planning and management training, and 20-30 potential young entrepreneurs will be financed and supported throughout the entire project. 

IT Sector Development in Kapan and Stepanavan Towns

Beneficiaries Description: Up to 20 university students, graduates, engineers ages 19-55 from Kapan and surrounding communities in Syunik region, and about 20 schoolchildren and students from Stepanavan town

IT Training Courses in Stepanavan

Beneficiaries Description: 36 schoolchildren ages 12-18 from Stepanavan Lori region and 16 university students, graduates, engineers ages 19-55 from Stepanavan Lori region

Micro Lending Support to Farmers Low-interest Loan Project 2018

Beneficiaries Description: 26 potential Farmer Cooperatives (FC) and at least 250 farmers

Youth Business Armenia

Beneficiaries Description: About 75 young people from Gegharkunik, Lori and Shirak marzes of Armenia to be benefited from the initial business idea generation and development training, out of which 45 will be engaged into business planning and management training, and 30 potential young entrepreneurs will be financed and supported throughout the entire project.

 

Quick Start Project in Gyumri | Digital Marketing Specialist Preparation

Beneficiaries Description: 11 young people in Gyumri and overall Shirak region aged 18-35 years

 

Micro Lending Support to Kalavan Community Low-interest Loan Project

Beneficiaries Description: 7 potential small rural business owners from Kalavan community of Gegharkunik region

 

Sundukyan Theatre Technical Refurbishment

Beneficiaries Description: the society and public who visit theatre for different plays (at least 100,000 people) 

Micro Lending Support to Farmers Low-interest Loan Project 2017

Beneficiaries Description: 26 potential Farmer Cooperatives (FC) and at least 250 farmers

Quick Start Project in Gyumri

Beneficiaries Description: Maximum 15 newly graduated young specialists in Gyumri and overall Shirak region aged 18-30 years

Micro Lending Support to Producer Groups Low-interest Loan Project

Beneficiaries Description: 5 Producer groups’ (PGs) members and at least 26 PG group member farmers from Shirak, Gegharkunik, Lori and Aragatsotn regions

Micro Lending Support to Farmers Low-interest Loan Project 2016

Beneficiaries Description: 26 potential Farmer Cooperatives (FC) and at least 250 farmers

Engineering Lab Establishment in Stepanavan

Beneficiaries Description: 36 schoolchildren ages 12-18 from Stepanavan Lori region and 16 university students, graduates, engineers ages 19-55 from Stepanavan Lori region

Emergency Housing Assistance to Refugee Households Displaced from Syria

Beneficiaries Description: About 285 refugee families from Syria 

Handicrafts Business Development for Refugees Project

Beneficiaries Description: 20 refugee artisans (mostly Syrian)

Micro Lending Support to Farmers Low-interest Loan Project 2015

Beneficiaries Description: 26 potential Farmer Cooperatives (FC) and at least 250 farmers

Golden Wheat Festival

Beneficiaries Description: Direct beneficiaries of the project are 11,382 community members living in Vardenis region.

Youth Business Development Project

Beneficiaries Description: 30 potential young entrepreneurs from Gegharkunik and Lori  marzes of Armenia

Handicrafts Business Development in Regions Project

Beneficiaries Description: Talin Dolls, Vardenis Sewing, Margahovit Wood, and Spitak Bags handicraft projects with about 45 artisan women and business managers. The indirect beneficiaries are the families of the women. 

Micro Lending Support to Farmers Low-interest Loan Project 2014

Beneficiaries Description: 26 potential Farmer Cooperatives (FC) and at least 250 farmers

Rural Life and Traditions Festival

Beneficiaries Description: Direct beneficiaries are 80 farmer cooperatives and its members from all around Armenia. Indirect beneficiaries are around 5 000 guests of festival

Dairy in Aregnadem

Beneficiaries Description: Direct beneficiaries are 24 members of "Aregnadem" Agricultural Consumer Cooperative, indirect beneficiaries are 488 inhabitants of Aregnadem village

Festivals as Tools for Community Based Tourism Development

Beneficiaries Description: The target group of the festivals are all the people of Arpeni, Vardenis and Shamshadin regions

Micro Lending Support to Farmers Low-interest Loan Project 2013

Beneficiaries Description: 26 potential Farmer Cooperatives (FC) and at least 300 farmers

Micro Lending Support to Farmers and SMEs of Meghri Region Low-interest Loan Project

Beneficiaries Description: 20 potential SMEs and Farmers of Meghri region

Micro Lending Support to SMEs 2013

Beneficiaries Description: 20 potential Farmer Cooperatives (FC) and in average 25 farmers per cooperative, in total about 500 farmers from Armavir, Ararat, Vayots Dzor and Aragatsotn marzes

Shamshadin Honey and Berry Festival 2013

Beneficiaries Description: All the people of Shamshadin

Goris Crochet Assistance

Beneficiaries Description: Goris Women’s Development Resource Center Foundation’s (GWDRCF) beneficiaries - 63 women doing business activities

Micro Lending Support to Farmers 2012

Beneficiaries Description: 20 potential Farmer Cooperatives (FC) and in average 25 farmers per cooperative, in total about 500 farmers from Armavir, Ararat, Vayots Dzor and Aragatsotn marzes.

Hospitality Service Development in Berd Subregion of Tavush Marz

Beneficiaries Description: Direct beneficiaries are 18-20 people from Berd and neighboring communities, who are willing to operate B&B and other hospitality services in the region.   Indirect beneficiaries will be tourists visiting Berd and staying overnight.

Soil Analysis on Fertilizers and Chemicals Pilot Project

Beneficiaries Description: One advanced farmer from Arevik village and one from Aratashen village

Berd Women’s Business Activism Promotion – Step 2

Beneficiaries Description: Berd Women Resource Center (BWRC) Foundation’s staff and 30 beneficiaries, mostly women doing business activities (making Teddy Bears). 

Berd Women’s Business Activism Promotion – Step 1

Beneficiaries Description: Berd Women Resource Center (BWRC) Foundation’s staff and beneficiaries, mostly women doing business activities (making Teddy Bears)

Micro Lending Support to Farmers 2011

Beneficiaries Description: 22 Farmer Cooperatives (FC) and in average 36 farmers per cooperative, in total about 800 farmers from Armavir, Ararat, Vayots Dzor and Aragatsotn marzes.

Soil Analysis on Fertilizers and Chemicals Research

Beneficiaries Description: Farmers of Armavir and Ararat marzes

Fast Impact Support Grants to Farmers’ Cooperatives

Beneficiaries Description: About 350 farmers from 8 agricultural farmers’ cooperatives and their families.

Microlending Support to Farmers – Phase IV

Beneficiaries description: 21 FAA member FOs with 975 member farmers from Yerevan and Armavir, Ararat, Vayots Dzor, Aragatsotn and Lori marzes.

Support Grants to Farmers’ Cooperatives Project

Beneficiaries Description: About 500 farmers from 10 cooperatives

Microlending Support to Farmers – Phase III

Beneficiaries Description: 20 FAA member FOs with 683 member farmers from Yerevan and Armavir, Ararat, Vayots Dzor, Aragatsotn and Lori marzes.

Micro - Lending Program for Farmers (Arevik Ag. Coop.)

Beneficiaries Description: 12 member farmers of Arevik Agricultural Cooperative, member of Federation of Agricultural Associations (FAA)

Micro - Lending Program for Farmers (Lukashin Ag. Coop.)

Beneficiaries Description: 42 member farmers of Getashen Agricultural Cooperative, member of Federation of Agricultural Associations (FAA)

Micro - Lending Program for Farmers (Janfida Ag. Coop.)

Beneficiaries Description: 33 member farmers of Janfida Agricultural Cooperative, member of Federation of Agricultural Associations (FAA)

Micro - Lending Program for Farmers (Hovtashat Ag. Coop.)

Beneficiaries description: 58 member farmers of Hovtashat Agricultural Cooperative, member of Federation of Agricultural Associations (FAA)

Micro - Lending Program for Farmers (Getashen Ag. Coop.)

Beneficiaries Description: 35 member farmers of Getashen Agricultural Cooperative, member of Federation of Agricultural Associations (FAA)

Microlending Support to Farmers – Phase II

Beneficiaries Description: 16 FAA member FOs with 700 member farmers from Yerevan and Armavir, Ararat, Vayots Dzor, Aragatsotn and Lori marzes.

Establishment & Management of Seedling Production

Beneficiaries Description: The direct beneficiaries of the project are 70 farmer members of Janfida Ag. Coop.

Establishment of Refrigeration Storage

Beneficiaries Description: The main beneficiaries of the project are the 35 members of Arevik Ag.Coop

Himnakar Cooperative Grant Project

Beneficiaries Description: The beneficiaries of project are 36 members of Himnakar Ag. Coop.

Fruit-vegetable Production & Farmers Group Formation

Beneficiaries Description: 42 members of Lukashin Ag. Coop

Cattle Allotment to the Members of Nairi Agricultural Cooperative

Beneficiaries Description: 45 members of Nairi Ag. Coop. 19 of which are women

Microlending Support to Farmers

Beneficiaries Description: 19 FAA member FOs with 1250 member farmers from Yerevan and Armavir, Ararat and Vayots Dzor marzes.

Developing Sustainable Family Owned Agribusiness in Syunik Region

Beneficiaries Description: Small-plot agricultural producers of Syunik marz

FOs' Documentary Circulation Improvement

Beneficiaries Description: At least 15 FAA member FOs with 1,000 member farmers from Yerevan and Armavir, Ararat and Vayots Dzor marzes.