The Armenian government has approved 400 million drams to support business initiatives by citizens aged 63–72, with grants of up to 2 million drams available to selected participants.
Deputy Economy Minister Aram Khachatryan said many people in this age group have extensive professional experience and an interest in entrepreneurship but lack startup capital or the necessary business skills, Sputnik Armenia reports.
The government will organize free courses covering the fundamentals of starting a business, financial planning and marketing.
Khachatryan emphasized that the financial assistance would not be a loan and would not have to be repaid, provided participants meet all program requirements. Funds will be transferred directly through banks, without cash payments.
The pilot program will provide training to at least 400 people, of whom 200 will be selected to receive financial assistance of up to 2 million drams each.
Eligible applicants must be Armenian citizens aged 63–72 who are already engaged in business or agree, if selected, to register as sole proprietors or become founders or executive heads of legal entities before signing the support agreement.
Priority will be given to residents of border communities, followed by those in mountainous and high-mountainous areas, and then other rural and urban settlements. Within each category, preference will go to pension recipients who are not employed as salaried workers when applying for training.
Prime Minister Nikol Pashinyan welcomed the initiative, arguing that people in their sixties and early seventies should not be regarded as too old to participate in economic life.
“In many cases, by labeling someone a pensioner, we contribute to their economic inactivity. We have a political message to convey: people aged 63 still have a life ahead of them,” he said.
Pashinyan also urged officials to pay closer attention to the language used when designing programs for older citizens.
