ARMENIA - The collapse of the Soviet Union and the break-up of the centrally directed economic system contributed to a severe economic decline in Armenia in the early 1990s.

As a country in economic and social transition, Armenia is struggling with the very real challenges faced by many of the former Soviet republics. In spite of some positive changes during the last years, unemployment remains one of the major issues in Armenia, where about 32% of the population is unemployed or underemployed.

In Shirak region, which is still suffering from the consequences of the devastating earthquake back in 1988, unemployment has reached a staggering high of 70%.

World Vision, through its Micro Enterprise Development Project (MED), provides loan credits to the small and medium business sector, together with agricultural community groups.

Since 1996, World Vision has assisted small enterprises ranging from small bakeries and sewing shops, to large scale food-processing factories, creating employment opportunities for thousands of Armenians, sustaining families and improving living conditions for their children.