The key to the successful utilization of the funds from the European programs is in their outsourcing to the banks, said also Hampartzoumian

„The mass financing under the operational programs should start with the top performers, which demonstrate good financial health“. This said Levon Hampartzoumian, the Chief Executive Officer of UniCredit Bulbank at the conference “EU funds and Competitiveness” that was organized by The Banker.

According to him, this is the easier way towards speeding up cash turnover because for the start-up companies and for those companies, which are short of capital, additional guarantees are required.

„The key to the successful utilization of the funds from the European programs is in finding a way for outsourcing to the banks as many programs as possible of the type “Competitiveness” and programs regarding agriculture“, commented also Levon Hampartzoumian. He further explained that the lack of administrative capacity in the public administration bodies could to a large extent be offset by the availability of such capacity in the banks.

„The subsidized financing will bring excellent results if it is made to work properly and we will do our best in this respect“, said Mr. Hampartzoumian in conclusion.

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