Private sector development discussed at BSTDB-organized forumJune 22, 2012 - 19:39 AMT PanARMENIAN.Net - A joint report by 31 multilateral and bilateral development institutions in cooperation with the private sector was delivered during the Business Forum “Armenia: Opportunities for Growth and International Experiences”, organized by the Black Sea Trade and Development Bank (BSTDB) in Yerevan. Sharing a common goal to foster development, representatives of BSTDB, IFC, a member of the World Bank Group, EBRD, KfW (Germany), and Vnesheconombank (Russia) discussed the role of the international financial community in supporting employment creation. The private sector is recognized as a driving force for sustainable growth, poverty reduction and macroeconomic stability. International Finance Institutions (IFIs) play a significant role in catalyzing private sector involvement by encouraging entrepreneurial initiatives without burdening Governments and taxpayers. The report “International Finance Institutions and Development through the Private Sector” was initiated under the sponsorship of the Private Sector Development Institutions Roundtable, which is an annual meeting of IFIs heads focusing on private sector development. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Lemkin Institute petition seeks release of Armenians in Azerbaijan The Lemkin Institute is deeply concerned about the continued illegal detention of political prisoners from Karabakh in Azerbaijan. Armenian Catholicos calls for national unity against threats Karekin II issued a message on Republic Day marking the anniversary of the First Armenian Republic. Pashinyan: Armenia’s desired goal is “on the horizon” Prime Minister Nikol Pashinyan has said that Armenia is moving forward “without interruption”. Opposition leader, supporters spend night at Sardarapat memorial Police made nearly 300 arrests the day before as Galstanyan and his supporters continued to demonstrate in Yerevan. |