TSAYG TV is well known in Armenia. According to Margarita Minasyan, the director of TSAYG LLC, the television in Armenia cannot ensure large financial flows, though needs large financial investments for development. That was why the owners decided renovating the own real estate in the center of Gyumri to open a business center and to direct a part of revenues for the development of the TV company.
Once the shareholder meeting took the decision, the Company applied to Converse Bank for a loan, which was approved. After renovation the premises were leased to various companies.
“We tended to work with young people from the very beginning. And as it turned out, IT companies are concentrated in our business center today,” Margarita said and added that they were considering the establishment of small productions with the support of Converse Bank.
The project was financed within the scope of the EBRD Women in Business Program.
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Oversight of the Bank is exercised by the Central Bank of Armenia.
