IFC invested about $150 mln in Armenia for 3 years

 March 27, 2012 - 11:29 AMT

PanARMENIAN.Net - Starting 1995, when Armenia joined the International Finance Corporation (IFC) – a World Bank Group member, the financial institution implemented 35 programs at the amount of over USD 200 mln, IFC Director for Europe and Central Asia said.

According to Tomasz Telma, IFC’s investment flow to Armenia totaled about USD 150 mln. for the past three years.

He pointed out financial assistance to the private sector, metal mining industry, creation of new jobs as well as promotion of economic growth among the programs implemented. The institution assists the country’s government not only in financing the budget deficit, but also provides consultation on improving tax and customs administration, reform implementation in the fields of inspections, logistics and food safety.