Armenian National Interests Fund liquidated

|

USD

384.44

EUR

434.11

RUB

4.8278

GEL

140.51

23.05.2024, 18:28

The Armenian government closed down the Armenian National Interests Fund (ANIF) during a session on Thursday.

Armenian National Interests Fund liquidated

YEREVAN, 23 May. /ARKA/. The Armenian government closed down the Armenian National Interests Fund (ANIF) during a session on Thursday.

As per the government’s decision, 100% of shares in the fund are to be transferred to the Ministry of Territorial Administration.

The ANIF was founded in 2019 and was supposed to attract international investments into the country, working with sustainable energy, agriculture, healthcare, service industry, and tourism. The Fund completed ten investment projects over four years, involving both domestic and foreign investors.

In 2023, various accounting, transparency and corporate management issues in the Fund were brought to light, which prompted the authorities to amend the Fund’s mandate and structure.

One of the projects the ANIF is believed to have failed was the Fly Arna air company, established together with Air Arabia Group in 2021. In March 2024, Armenia’s Prime Minister Nikol Pashinyan admitted that the project turned out to be unsuccessful.

VTB (Armenia) launched a new service for money transfers to “Mir” cards of all Russian banks

Retail clients of VTB (Armenia) can transfer funds from their “Mir” cards to cards of Russian users using a new service - through the bank's website.

17.06.2025 12:28

Converse Bank Partners with IFC to Boost Trade Finance Capabilities

Converse Bank has secured trade finance line from the International Finance Corporation (IFC).

17.06.2025 11:12

Ameriabank joins TOON EXPO to be held first time in Moscow

Ameriabank, the leader in the mortgage market, is set to participate in TOON EXPO, an international exhibition of real estate and construction initiated by Big Projects, that will be held on June 27-29, for the first time in Moscow.

11.06.2025 17:52

Head of the Central Bank of Armenia named two main risks to financial stability

From the point of view of Armenia's financial stability, two main risks can be identified, one of which continues to be primarily caused by external conditions, and the second is the result of internal development, said Martin Galstyan, Chairman of the Central Bank of the Republic, presenting the financial stability report for 2024.

11.06.2025 14:31

Bank lending to the Armenian economy showed a significant increase of 25.5% in 2024 - Central Bank head

In 2024, the loan portfolio provided to the economy by the banking system grew significantly - by about 25.5%, and the growth of the deposit portfolio of the banking system amounted to 14%, said the head of the republic's Central Bank Martin Galstyan.

11.06.2025 12:47

Modern French language class opened in Mastara village school with the support of the Stepan Gishyan Foundation

Students of the Mastara village school in Aragatsotn region now have the opportunity to study French in a fully equipped classroom equipped with all the multimedia capabilities, the press service of Akba Bank reports.

10.06.2025 17:52

Armenia hosts the largest wine festival in the region for the fifth time with the support of Acba Bank (VIDEO)

For the fifth time, with the support of Acba Bank, Yerevan is hosting the most anticipated event of the first week of June — the Yerevan Wine Days festival, which tells the world about the unique and thousand-year-old traditions of Armenian winemaking, the bank’s press service reports.

09.06.2025 10:56

Cashback for All Ardshinbank Mastercard Cardholders

From June 2 to September 2, Ardshinbank will run a campaign titled “Cashback for All Mastercard Cardholders” marking the summer with yet another pleasant and meaningful collaboration.

05.06.2025 15:17