Tue, 8 April
9.1 C
Yerevan
USD: 391.14 RUB: 4.55 EUR: 428.65 GEL: 142.05 GBP: 501.60
spot_img

IFC will provide Armenia with $1.9 million to help it improve investment climate

YEREVAN, February 8. /ARKA/. The International Finance Corporation (IFC), a member of the World Bank Group, will provide Armenia with $1.9 million grant to help it improve its investment climate.

An agreement to that end was signed today in Yerevan by Armenian economy minister Tigran Davtyan and IFC regional director for the Caucasus Thomas Lubeck. The aim is to reduce the red tape for entrepreneurs and improve the investment climate in close cooperation with IFC.

‘The money will be spent on reforming tax administration, assisting export and import operations, implementing inspections, as well as solveing food security problems”, said Davtyan.

The reform program is based on the results of Doing Business Reform – Regulatory Simplification Project implemented by IFC in 2009-2011.

Thomas Lubeck said that the main purpose of the program is to improve the investment climate for small and medium-sized enterprises. He said the IFC welcomes the government’s efforts to improve the business environment.

Armenia has improved its position in the annual ranking Doing Business-2012 by six positions moving to the 55th position.

Lubeck added also that the IFC is ready to assist the government in the implementation of further reforms that will contribute to creating favorable conditions for the Armenian businesspeople.

Armenia became a member of IFC in 1995. As of August last year, it invested $147 million in 28 projects here to promote financial markets, as well as manufacturing, energy and mining sectors. -0-

spot_img

POPULAR

Draft law on crypto assets to be submitted to Armenian parliament in coming weeks – Deputy Chairman of Central Bank

The draft law on crypto assets, developed by the Central Bank of Armenia in the context of European norms, will be submitted to the Armenian parliament in the coming weeks, said Deputy Chairman of the Central Bank Armen Nurbekyan.

Ministry of Economy and  IMF delegation discussed Armenia’s economic diversification, export strategy

Yesterday, Armenian Economy Minister Gevorg Papoyan received a delegation led by Iva Petrova, head of the International Monetary Fund (IMF) mission in Armenia.

Concept of a private investment fund in Armenia discussed by Minister of Economy with Nubar Afeyan

The concept of creating a private investment fund in Armenia within the framework of effective public-private partnership was discussed by Armenian Minister of Economy Gevorg Papoyan and American businessman Nubar Afeyan.

Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

Armenia discusses bankruptcy reforms with ADB and AFD

Reforms of Armenian legislation in the field of bankruptcy were discussed at a meeting between Deputy Minister of Justice of Armenia Tigran Dadunts and representatives of the Asian Development Bank (ADB) and the French Development Agency (AFD).

LATEST NEWS

spot_imgspot_imgspot_img