IFC invests $80 million in Armenia’s private sector developmentJuly 25, 2012 - 21:27 AMT PanARMENIAN.Net - International Finance Corporation (IFC), a member of the World Bank Group, supported private sector development in Armenia by investing a record $80 million in the country during the last fiscal year while advising companies in areas from energy efficiency to food safety. IFC invested in six projects that helped local banks extend lending to smaller businesses and agricultural companies, key drivers of the Armenian economy. Other IFC projects focused on creating jobs, combating climate change and helping Armenian firms access international markets, IFC Armenia Office press service reported. “In the last few years we have increased our support to Armenia to help address the consequences of the global economic crisis,” said Thomas Lubeck, IFC Regional Manager, South Caucasus. “We will continue supporting small and medium enterprises, promoting energy efficiency, and helping banks address the impact of economic uncertainty in European financial markets.” Top stories Yerevan will host the 2024 edition of the World Congress On Information Technology (WCIT). Rustam Badasyan said due to the lack of such regulation, the state budget is deprived of VAT revenues. Krisp’s smart noise suppression tech silences ambient sounds and isolates your voice for calls. Gurgen Khachatryan claimed that the "illegalities have been taking place in 2020." Partner news Most popular in the section | Kazakhstan welcomes Yerevan, Baku’s agreement to meet in Almaty Kassym-Jomart Tokayev has welcomed the agreement of Baku and Yerevan to hold negotiations in Almaty. Armenia offers to temporarily host, preserve Gaza manuscripts The Armenian Foreign Minister has said Yerevan is ready to help preserve manuscripts from the conflict zone in Gaza. Aliyev says no need for mediators in Armenia-Azerbaijan process Azerbaijani President Ilham Aliyev believes that Baku and Yerevan do not mediators in the process of normalizing relations. Aram I supports Karekin II’s “patriotic position” Catholicos of the Great House of Cilicia Aram I has expressed support for the Mother See of Holy Etchmiadzin. |