YEREVAN, October 17, /ARKA/. The European Bank for Reconstruction and Development (EBRD) is supporting the development of the telecoms, information and media sector in Armenia with a US$ 2.2 million quasi-equity investment in Interactive TV LLC, a digital cable TV service provider, and one of the capital Yerevan’s largest media delivery companies, the bank said in a press release.
Interactive TV was founded in 2006 and was Yerevan’s first cable television supplier with a substantial share of the capital’s digital cable television market. EBRD financing will enable the company to build on its existing footprint and diversify its products by expanding into more districts of the city and by offering broadband internet services.
“We are delighted to have a reputable organisation such as the EBRD supporting us in our future development plans. We hope to grow into one of the leading multi-service telecoms, informatics and media companies in Armenia, while continuing to serve our clients,” said Avetik Kalantaryan, the CEO of Interactive TV.
The EBRD is one of the largest investors in Armenia. Since the start of its operations in the country in 1992, the EBRD has invested more than US$ 600 million in 101 projects in the financial, corporate, energy and infrastructure sectors, with 92 per cent of projects representing investment in the private sector. -0-
