The Izmirlian Foundation implemented a range of economic and community development initiatives aimed at supporting entrepreneurship, stimulating business growth and creating employment opportunities in Armenia. Through subsidized loan and lending programmes implemented in cooperation with local financial institutions, the Foundation supported micro, small and medium enterprises by facilitating access to financing and contributing to local economic activity and job creation.
The initiatives aimed to promote sustainable economic and community development by improving access to finance for micro, small and medium enterprises, supporting entrepreneurship and business growth, and creating and maintaining employment opportunities. They also sought to strengthen Armenia’s innovation ecosystem by supporting investment in technology companies with growth potential.
More than 200 micro, small and medium enterprises benefited from subsidized loan and lending initiatives implemented by the Izmirlian Foundation in cooperation with local financial institutions, contributing to the creation of over 2,600 jobs.
Since 2004, the Izmirlian Foundation has supported the revival of Meghri’s historic Poqr Tagh (Lesser District) through an integrated approach combining cultural heritage preservation, community development and tourism. The initiative began with the restoration of a 19th-century traditional house, which was transformed into a guesthouse, alongside activities supporting local women in reviving traditional southern Armenian embroidery and carpet weaving.
Following the forced displacement of the Armenian population of Artsakh, many micro and small entrepreneurs had to rebuild their businesses and livelihoods in Armenia after losing assets, established customer networks and supply chains. They also faced challenges in accessing finance, navigating a new business environment and adapting their businesses to new market conditions. To support their economic integration and long-term resilience, the Izmirlian Foundation, in partnership with Artsakh Union NGO, implemented the project “Mapping, Awareness, and Capacity Building of Displaced Micro and Small Entrepreneurs from Artsakh.” The initiative aimed to strengthen the economic stability and competitiveness of businesses established by forcibly displaced residents of Artsakh and operating across Armenia.
Over the years, the Izmirlian Foundation supported a range of initiatives aimed at strengthening Armenia’s private sector and expanding access to finance for small and medium-sized enterprises, entrepreneurs and economically vulnerable communities. The Foundation’s support helped make financing more accessible for businesses seeking to start or expand their operations, invest in production, strengthen competitiveness and create employment opportunities. Particular attention was given to enterprises with growth and export potential, as well as to initiatives contributing to local economic development.
