Armenia's Ministry of Economy ready to continue interaction with Amber Capital to stimulate investments growth

YEREVAN, April 1. /ARKA/. Armenian Economy Minister Gevorg Papoyan received Monday representatives of Amber Capital, the Economy Ministry said.

The minister was said to underscore the activities of EU-Armenia SME Fund managed by Amber Capital and in the context of capital market development and introduction of good corporate governance in Armenia expressed readiness to continue cooperation, contributing to the stimulation of investment growth in the country.

Anushavan Simonyan, Executive Director of the company, presented the Fund's activities, investment policy and implemented investments. The meeting touched also upon the areas attractive for the Fund's activity such as agriculture, renewable energy, etc.

EU-Armenia SME Fund, managed by Amber Capital, is a private equity fund launched in January 2020 through investments from the European Union (EU), European Bank for Reconstruction and Development (EBRD), Amundi-ACBA Asset Management, Hirair and Anna Hovnanian Foundation and Amber Capital's investment team.

It subsequently raised additional capital from the Armenian National Interest Foundation, C-Quadrat Ampega Asset Management, Dutch Enterprise Development Bank (FMO) and the Government of Armenia, as well as a number of Diaspora investors, bringing the total capital raised to $60 million.

The Fund's commitments include financing the sustainable growth of Armenian SMEs through capital investments and the introduction of high standards of environmental, social and corporate governance.-0-