Government Fully Approves 104 out of 105 Subsidy Programs Proposed by Kotayk Region

The governor of Kotayk region, Romanos Petrosyan, shared exciting news on his Facebook page: "Dear Kotayk residents, fellow countrymen. I would like to share news that inspires and provides limitless motivation for all of you. The Government of Armenia has fully approved 104 out of approximately 105 subsidy programs presented from Kotayk (only the project package of one program was not submitted on time due to the negligent approach of the designing company, resulting in legal proceedings against it). Accordingly, in Kotayk, 104 subsidy programs will be implemented in 2020 with co-financing from the state budget totaling 6.7 billion AMD. Out of this 6.7 billion, 3.6 billion AMD is the share of community co-financing, nearly 3 billion is the part funded by the state, and 84.5 million AMD is the co-financing from individual investors and private entities.

Moreover, it is noteworthy that the 52 social and economic infrastructure development subsidy programs implemented in Kotayk in 2019 have been followed in 2020 by a staggering 104 approved projects. Even more impressive is the financial aspect; the total budget of the 52 ongoing programs in Kotayk in 2019 was approximately 2.048 billion AMD, whereas the overall budget for the 104 programs in 2020 is more than THREE TIMES LARGER, around 6.7 billion AMD. P.S. I will discuss all of this in more detail in an upcoming live format."