Tue, 10 June
25.1 C
Yerevan
USD: 384.44 RUB: 4.83 EUR: 434.11 GEL: 140.51 GBP: 515.15

IFC and EBRD will allocate credit in the amount of &9 million to Armenian construction company “Elite Group”

AGHVERAN, July 9. /ARKA/. International Finance Corporation (IFC) and European Bank of Reconstruction and Development (EBRD) will allocate credit in the total amount of &9 million to Armenian construction company “Elite Group” fro the construction of 18-storeyed office building in the center of Yerevan.

Relevant agreement was signed on Friday between representatives of three parties in the frames of the visit of Tigran Sargsyan, Armenian Prime Minister to Kotayk region.

IFC will allocate $5.4 million and EBRD – $3.6 million.

The building is envisaged for offices dealing with retail trade, conduction of conferences and exhibitions.

Construction of modern building corresponds to international standards and assists in the development of business-environment of Armenia.

Thomas Lyubek, Head of IFC said that the credit is provided for real estate and construction which play a great role in the economy and employment of the country.

“Cooperation with “Elite Group” will allow to establish business center corresponding to all the standards. We are ready to cooperate with other Armenian organizations”, said Lyubek.

Alexander Babayan, Leading banker of Yerevan office of EBRD said that it is the first joint project of two financial organizations in Armenia.

Multi-functional office building differs from its quality and corresponds to European standards.

The company “Elite Group” implements construction of residential and public houses, internal design and service of buildings. In 2009 the Government of Armenia adopted decision on providing state guarantees to construction company “Elite Group” in the amount of $2.5 million. -0-

spot_img

POPULAR

Euro and ruble exchange rates to the Armenian dram fell, the dollar rose

The average market exchange rate of the US dollar to the Armenian dram, formed on the Armenian currency market as of June 6, 2025, increased by 0.06 points compared to June 5 and amounted to 383.46 drams.

Mechanism to stimulate cashless payments to be developed in Armenia

On Friday, the Armenian government held a meeting on issues related to stimulating cashless payments in the country.

Acba Bank and NABU launch free 2025 program for organic agriculture development

Acba Bank and the Armenian branch of the German "Nature and Biodiversity Conservation Union" (NABU) are launching a free 2025 Organic Agriculture Development Program, the bank's press service reported.

Dollar and euro exchange rates to the Armenian dram fell again, while the ruble rose

The average market exchange rate of the US dollar to the Armenian dram, formed on the Armenian currency market as of June 4, 2025, fell again by 0.1 points compared to June 3 and amounted to 383.76 drams.

AMX introduces remote membership model, opening doors to international investors

The Armenia Securities Exchange (AMX) and the Central Depository have introduced a Remote Membership model, which is aimed at providing access to foreign investors to the Armenia Securities Exchange, the press service of the exchange reported.

LATEST NEWS

spot_imgspot_imgspot_img