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TCGI is working to implement a revolving loan fund in order
to build free and independent media in Armenia. Working with
the International Research and Exchange Board, TCGI is establishing
the loan fund and a local foundation to manage the fund. With
creative structuring, the fund will help alleviate the payment
burden on the borrowers, while introducing the media to commercial
borrowing practices and requirements. It will also create
a culture of commercial business operations within the media
sector. The media loan facility will involve local financial
institutions in media financing by offering risk-sharing mechanisms,
such as opportunities for co-financing. Having a stake in
the media lending will familiarize the banks with this market
segment and encourage them to conduct proper due diligence
and ensure repayment. And finally, to the extent possible,
the Foundation will seek to amplify the effect of USAID financing
by leveraging local funds.
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