OPEC to promote agricultural development in Armenia
Armenian Vice Premier Armen Gevorgyan Tuesday met with Head of OPEC (OFID) International Development Fund Jazir Al-Herbish, Ministry's press service reported. Present at the meeting was Gagik Matevosyan, Head of "Rural Territories Development Program" at Ministry of Agriculture.
Armenia-OFID cooperation began in 2004. Over 5 years, 4 programs were implemented, mostly in the sphere of gas supply. OFID funding in Armenia comprised USD 30 million. Negotiations are now being held for attracting an additional sum of USD 20 million.
Armenian Vice Premier and Head of OFID discussed issues concerning the new investment program. Rural Empowerment Program will be co-funded by OFID and IFAD (International Fund for Agricultural Development).
Armen Gevorgyan informed that OFID funding is due in the second half of 2010 and requested fund leadership to implement procedural steps within the shortest time limits.
Agreement was achieved for approving the program in March 2010, after discussions between OFISD and IFAD.
Armenia-OFID cooperation began in 2004. Over 5 years, 4 programs were implemented, mostly in the sphere of gas supply. OFID funding in Armenia comprised USD 30 million. Negotiations are now being held for attracting an additional sum of USD 20 million.
Armenian Vice Premier and Head of OFID discussed issues concerning the new investment program. Rural Empowerment Program will be co-funded by OFID and IFAD (International Fund for Agricultural Development).
Armen Gevorgyan informed that OFID funding is due in the second half of 2010 and requested fund leadership to implement procedural steps within the shortest time limits.
Agreement was achieved for approving the program in March 2010, after discussions between OFISD and IFAD.
