2024-09-02 14:32:15
On February 24, 2021, the US Agency for International Development announced $2.65 million in additional funding for the development of Armenia’s agricultural sector.
The funding will expand two USAID programs, providing more targeted support to women entrepreneurs and forming cooperatives.
USAID’s Rural Economic Development – New Economic Opportunities (RED-NEO) program launched in February 2019 received $1.15 million in additional funding, bringing the total budget to $5.15 million. The program will use these additional funds to develop women’s capacities, promote rural entrepreneurship, and target barriers that prevent women from assuming economic leadership roles.
All this will complement RED-NEO’s current activities to strengthen the value chain of horticulture and viticulture in Armenia. Participants trained under the program can later apply for small grants to upgrade their production capacity. To date, the program has provided 29 grants for the provision of services and the provision of necessary goods. In total, more than 100 grants will be awarded during the program. RED-NEO support averaged 2020 grantees. more than 11 percent of revenues.
Thanks to the additional funding, RED-NEO will work to close the gender economic gap and develop the business, financial, marketing, and management skills of women in agriculture. According to one of the assessments, eliminating the gender economic gap can be an important opportunity for Armenia. Moreover, the country could have recorded an annual GDP growth of 14 percent if women were allowed to enter the labor market at their appropriate level.
RED-NEO will create a mentoring program to promote new collaborations and strengthen existing ties between women entrepreneurs, students, business associations and other entities.
USAID is also providing an additional $1.5 million in funding to the Innovative Agricultural Training and Training Camp (AGRI CAMP) program to strengthen formal cooperatives, business development, and increase access to agricultural innovations for women.
Total project funding now stands at $1.9 million. As part of the AGRI CAMP launched in May 2020, the Kotayk Marz building of the National Agrarian University of Armenia is being renovated, where entrepreneurs from rural communities in Armenia will acquire new skills to expand their business and improve production.
With this additional funding, AGRI CAMP will strengthen the skills and business connections of female agribusiness entrepreneurs by bringing together technical experts, entrepreneurs and engineers to develop innovative solutions in agriculture (e.g. maximizing production using modern irrigation technologies with minimal use of water and fertilizers).
AGRI CAMP expects that by 2023 April 30, at least 1,000 women farmers will have better access to new farming practices and technologies thanks to this program. A result that will ultimately lead to increased business revenue and household income.