Armenia secures $55 mln loan to boost development of tourismDecember 16, 2016 - 15:32 AMT PanARMENIAN.Net - Armenia’s National Assembly on Friday, December 16 ratified a $55 million loan agreement with the International Bank for Reconstruction and Development (IBRD), ARKA reports. Deputy Minister of Economic Development and Investments Tigran Khachatryan introduced the agreement to the lawmakers and said the IBRD will extend the loan for the development of tourism in Armenia’s provinces. He said the loan will be extended for 25 years with a 14.5-year grace period. According to him, these financial resources, which will be provided within five years, will be spent to improve infrastructural services and institutional opportunities of Armenia as well as to develop tourism in Ararat, Vayots Dzor, Lori and Kotayk provinces. The aim of the program is to attract tourists to Armenia. 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 | Scholz hopes Armenia-Azerbaijan peace treaty will be signed this year German Chancellor Olaf Scholz hopes that a peace treaty between Armenia and Azerbaijan will be signed this year. Ucom equips four bus stops in Ijevan with free Wi-Fi Ucom now provides free Wi-Fi coverage in smart bus stops in four communities of Ijevan. Armenians stage more campaigns against territorial concessions to Azerbaijan Protesters blocked more roads across Armenia on Friday, April 26 in continuing attempts to scuttle territorial concessions to Azerbaijan. Czech-Armenian military cooperation discussed in Yerevan A delegation led by the Director General for the Industrial Cooperation Division of the Ministry of Defence of the Czech Republic visited Armenia. |