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Construction of largest solar power plant in Armenia jointly with Emirati company MASDAR will start in early 2026
... an area of 500 hectares in the Talin and Dashtadem communities of the Aragatsotn region of Armenia. The total investment cost for the project is estimated at $174 million. It was initially planned that 15% of the solar power plant would belong to the Armenian ANIF fund (the fund, which was established by the state in 2019 to attract foreign investment in partnership with the private sector, was liquidated in August 2024. Financial problems, particularly in the accounting documentation, were identified in the ...
04/09/2025Armenia to own 15% in Aig-1 project implemented jointly with Emirates’ MASDAR
... built on an area of 500 hectares in the communities of Talin and Dashdede in the Aragatsotn province of Armenia. The total investment cost of the program was estimated at $174 million. Initially, 15% of the solar power plant were to be handed over to Armenian National Interest Fund (ANIF), established by the government in 2019 to attract foreign investments in partnership with the private sector. ANIF was liquidated in August 2024 due to a set of financial problems. MASDAR, registered in the Emirates, is a subsidiary of the UAE sovereign ...
11/05/2024No defendant in criminal case against ANIF - Armenian Investigative Committee
... Armenian National Interest Fund (ANIF) CJSC. YEREVAN, 15 October. /ARKA/. The chairman of the Investigative Committee of Armenia Argishti Kyaramyan provided MPs with some information today regarding the criminal case against Armenian National Interest Fund (ANIF) CJSC. ‘The criminal case is conducted by the Main Department for Special Assignments of the Investigative Committee, which acts under my direct supervision. The case is at the investigation stage, and from the legal point of view, as well as from ...
10/15/2024Yerevan Mayor accuses former minister Kerobyan of telling a lie
... Air Arabia, based in Sharjah, United Arab Emirates (UAE), is preparing an arbitration claim against the Armenian government. 'The only thing I regret in the history of Fly Arna is that the reforms were not carried out in time,’ Avinian noted. The Armenian government liquidated ANIF on 23 May 2024. By the government's decision, the authority to manage the 100 per cent state stake in ANIF was transferred to the State Property Management Committee of the Ministry of Territorial Administration and Infrastructure.-0-
07/24/2024Air Arabia to sue Armenia over Fly Arna dispute
... been liquidated due to financial problems) owned 49% of Fly Arna, with an equal share held by Air Arabia's 100%-owned subsidiary International Business Company, and the remaining 2% by Lebanese-Armenian businessman Varoujan Nercessian. The state-owned Armenian National Interests Fund (ANIF) was established in 2019 to attract foreign investments under the "Entrepreneur + State" partnership model. ANIF's activities spanned renewable energy, agriculture, healthcare, services, and tourism. In its first four years, the fund implemented ...
07/19/2024Armenian National Interests Fund liquidated
The Armenian government closed down the Armenian National Interests Fund (ANIF) during a session on Thursday. 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 ...
05/23/2024Fly Arna airline project has failed - Pashinyan
... Pashinyan admitted on Wednesday. YEREVAN, March 20. /ARKA/. The public-private partnership to create Fly Arna airline has failed, Armenian Prime Minister Nikol Pashinyan admitted on Wednesday. On January 29, 2024, Fly Arna, a joint venture between the Armenian National Interest Foundation (ANIF) and Air Arabia Group, announced the suspension of flights. On March 19, Armenia's Deputy Minister of Territorial Administration and Infrastructure Armen Simonyan said that the airline's license was suspended due to a lack of aircraft. Simonyan recalled ...
03/20/2024Fly Arna airline's license suspended due to lack of aircraft - Deputy Minister
... he assured that public information would, in any case, be provided. "So far I can only say that the issue is being studied and that it is mainly financial," Simonyan said. Fly Arna is Armenia's national airline, a joint venture between the Armenian National Interest Foundation (ANIF) and Air Arabia Group. In October 2021, the government allocated about $10 million for its establishment, which was used to increase the ANIF's authorized capital. At the beginning of June 2022, the air carrier received an air operator certificate ...
03/19/2024Corruption cases being investigated in Ministry of Economy of Armenia
... innocence". This was followed by reports that Deputy Minister of Economy Ani Ispiryan, who was dismissed January 30 by Prime Minister's decree, was detained by law-enforcers. In December 2023, Ispiryan was elected Char of the Board of Directors of the Armenian National Interest Fund (ANIF). According to unconfirmed reports, the National Security Service and the Investigative Committee are conducting searches not only in the office of Ispiryan, but also in 15 other addresses as part of two criminal proceedings. Journalists in the parliament ...
01/31/2024Armenia's Deputy Minister of Economy, who chaired ANIF Board of Directors, dismissed
... Minister Mher Grigoryan) and Arman Adilkhanyan (Chief of Staff of Deputy Prime Minister Tigran Khachatryan) were appointed as new members of the ANIF Board. In 2023, certain problems with reporting, transparency and corporate governance were identified in ANIF. This made the Armenian government change ANIF top managers. The powers of ANIF Director David Papazyan and Board Chairman Tigran Avinian (currently Mayor of Yerevan) were prematurely terminated. ANIF's balance sheet and financial report for 2022 were not approved by ...
01/31/2024Armenian Fly Arna announces suspension of flights
... as the company is undergoing operational revisions. The carrier is actively working on resuming its services and is looking forward to welcoming passengers back onboard soon,’ the airline said in a statement. Fly Arna is a joint venture between the Armenian National Interests Foundation (ANIF) and Air Arabia Group. The government allocated nearly $10 million for its establishment in October 2021, which were used to increase the authorized capital of the ANIF. At the beginning of June 2022, the air carrier received an Air Operator Certificate ...
01/30/2024Kerobyan admits there were problems at ANIF, but does not disclose details
Armenian Economy Minister Vahan Kerobyan admitted on Monday that there were problems at the Armenian National Interest Fund (ANIF), but did not disclose details. YEREVAN, January 9. /ARKA/. Armenian Economy Minister Vahan Kerobyan admitted on Monday that there were problems at the Armenian National Interest Fund (ANIF), but did not disclose details. The Armenian National ...
01/09/2024ANIF attracted 84.6 billion drams in direct foreign investments
The Armenian National Interests Fund (ANIF) has attracted 84.6 billion drams ($210 million) in direct investments. YEREVAN, January 8. /ARKA/. The Armenian National Interests Fund (ANIF) has attracted 84.6 billion drams ($210 million) in direct investments. According to the press service ...
01/08/2024Economy Minister replaces top managers of Armenia's National Interest Fund
The termination of powers of the CEO of the Armenian National Interest Fund (ANIF) Davit Papazyan and some members of ANIF Board of Directors is the initiative of the Ministry of Economy, ANIF said today.. YEREVAN, January 8. /ARKA/. The termination of powers of the CEO of the Armenian National Interest Fund (ANIF) Davit ...
01/08/2024Authorized capital of Armenian national air carrier Fly Arna increased by AMD 2 bln
... shareholders of Armenian national airline Fly Arna on December 25, 2023 decided to increase the airline's authorized capital by more than 2 billion drams, the Ministry of Economy reported. Fly Arna is Armenia's national airline, a joint venture between the Armenian National Interest Fund (ANIF) and Air Arabia Group. The government allocated about $10 million for its establishment in October 2021, which was used to increase the authorized capital of the ANIF. In early June 2022, the carrier received air operator's certificate (AOC) and ...
01/08/2024Deputy minister of economy elected head of board of directors of ANIF
... Armenian National Interest Fund CJSC (ANIF), the press service of the Ministry of Economy reported. YEREVAN, December 25. /ARKA/. Armenian Deputy Minister of Economy Ani Ispiryan has been elected chairperson of the Board of Directors of the Armenian National Interest Fund CJSC (ANIF), the press service of the Ministry of Economy reported. The powers of the former chairperson of the Board Tigran Avinian (now Yerevan Mayor) were terminated ahead of schedule on November 13, 2023, according to the order of Economy Minister Vahan ...
12/25/2023FlyArna denies rumors about suspension of flights
... flights," the carrier said in a statement. It also noted that in the last few days the airline's booking system did not work due to technical problems, which have already been resolved. About FlyArna airline FlyArna is a joint venture between the Armenian National Interest Fund (ANIF) and Air Arabia Group. Based at Yerevan's Zvartnots International Airport, FlyArna follows Air Arabia's successful low-cost business model, which offers convenience, reliability and low-cost air transportation. -0-
12/04/2023Armenian National Interests Fund's 2022 financial report not approved due to inaccurate data
The balance sheet and the financial report of the Armenian National Interests Fund (ANIF) for 2022 are not approved because "the consolidated financial statements for the reporting period do not accurately reflect the financial position of the Fund and its subsidiaries," the Ministry of Economy reported. YEREVAN, November ...
11/13/2023Construction of Ayg-1 solar power plant in Armenia to start later this year
The construction of the Ayg-1 photovoltaic power plant in Armenia will kick off in the fourth quarter of this year, Armenian National Interest Fund (ANIF) CEO Davit Papazyan said during Armenia-UAE business forum in Yerevan. YEREVAN, September 18. /ARKA/. The construction of the Ayg-1 photovoltaic power plant in Armenia will kick off in the fourth quarter of this year, Armenian National Interest ...
09/18/2023Fly Arna has successfully received IOSA certificate
... commitment to safety but also underscores its efforts to contribute positively to Armenia's aviation industry and broader international air travel community. About Fly Arna Fly Arna is Armenia’s national airline and a joint venture company between the Armenian National Interests Fund (ANIF) and Air Arabia Group. Based in Zvartnots International Airport (EVN) in Yerevan, Fly Arna follows the successful low-cost business model operated by Air Arabia Group that focuses on offering comfort, reliability, and value-for-money air travel. ...
08/21/2023ANIF’s “Entrepreneur + State Anti-Crisis Investments Fund” Makes its First Exit from a Portfolio Company, Sells its Shares Back to the Partner
“Entrepreneur+ State Anti-Crisis Investments Fund” a subsidiary of the Armenian National Interests Fund (ANIF), sells shares of its jointly owned company with Yeremyan Projects group of companies (Father and Son Yeremyans LLC) “From Seed to Farm” to the same company. YEREVAN, August 4. /ARKA/. “Entrepreneur+ State Anti-Crisis Investments Fund” ...
08/04/2023Armenia's National Interest Fund records net profit of about $4.6 million in 2023
... joint investment projects with Armenian and foreign investors. YEREVAN, July 26. /ARKA/. During the less than four years of its establishment, Armenian National Interests Fund (ANIF) has implemented about a dozen joint investment projects with Armenian and foreign investors. ANIF said in a press release that over the past year, it has already posted a net profit of more than 1 billion 760 million AMD (about 4.6 million US dollars). It is especially remarkable that ANIF’s success came despite a number of crises Armenia went ...
07/26/2023Fly Arna to launch Yerevan-Tehran-Yerevan flights
... between Yerevan and Imam Khomeini International Airport in Tehran, Iran. The first flight is scheduled for July 11. The flights will be operated twice a week - on Tuesdays and Fridays. Fly Arna is an Armenian national airline, a joint venture of the Armenian Interests State Fund (ANIF) and the Air Arabia group. Its home airport is Yerevan's Zvartnots. -0-
06/22/2023Fly Arna launches flights from Yerevan to Moscow's Vnukovo airport
... Vnukovo international airport, the airline's press service reported. Flights between Yerevan and Moscow will be operated four times a week, on Mondays, Thursdays, Saturdays, and Sundays. Fly Arna, the Armenian national airline, is a joint venture of the Armenian Interests State Fund (ANIF) and the Air Arabia group. Its home airport is Yerevan's Zvartnots. -0-
06/19/2023Fly Arna launches new direct flights connecting Yerevan to Kuwait
.... Expanding its network of destinations remains one of Fly Arna’s top priorities, and the airline will continue to add new routes across the region. About Fly Arna Fly Arna is Armenia’s national airline and a joint venture company between the Armenian National Interests Fund (ANIF) and Air Arabia Group. Based in Zvartnots International Airport (EVN) in Yerevan, Fly Arna follows the successful low-cost business model operated by Air Arabia Group that focuses on offering comfort, reliability, and value-for-money air travel. ...
05/29/2023ANIF's new investment in light industry project
Armenian National Interests Fund’s (ANIF) subsidiary “Entrepreneur + State” Investment Fund will jointly invest with Universal Closures CJSC in expansion of the company’s bottle closures and caps production. YEREVAN, May 17. /ARKA/. Armenian National Interests Fund’s (ANIF) ...
05/17/2023Armenia interested in further deepening of mutually beneficial partnership with Air Arabia
... satisfaction with cooperation with Armenia and said it has great potential for development. He expressed readiness of Air Arabia to continue and expand joint programs. The parties discussed prospects of development of Fly Arna airlines, a joint venture of the Armenian National Interest Fund (ANIF) and the Air Arabia group. In the context of strengthening civil aviation and increasing tourist flows the sides discussed the issues of passenger transportation, consistent improvement of service quality, expansion of flight geography and other ...
04/27/2023Fly Arna launches direct flights between Yerevan and Baghdad
... first regular flight between the capitals of Armenia and Iraq. Flights between Zvartnots and Baghdad airports will be operated twice a week, on Thursdays and Saturdays. Fly Arna is Armenia’s national airline and a joint venture company between the Armenian National Interests Fund (ANIF) and Air Arabia Group. Based in Zvartnots International Airport (EVN) in Yerevan, Fly Arna follows the successful low-cost business model operated by Air Arabia Group that focuses on offering comfort, reliability, and value-for-money air travel. ...
04/24/2023Fly Arna to launch flights between Yerevan and Baghdad
... Yerevan to Baghdad starting April 22, 2023. Flights between Yerevan's Zvartnots Airport and Baghdad International Airport will be operated twice a week, on Thursdays and Saturdays, the airline's press service said. Fly Arna is a joint venture between the Armenian National Interests Fund (ANIF) and the Air Arabia Group. Its home airport is Zvartnots and its fleet consists of Airbus A320 aircraft. The airline began flights to Central Asia, the Middle East and Russia in May 2022 and plans to expand its route network to Europe. --0--
03/13/2023Fly Arna launches new flights to Novosibirsk
Fly Arna, Armenia’s national airline and a joint venture company between Armenian National Interest Fund (ANIF) and Air Arabia Group, announces the launch of direct flights from Yerevan to Novosibirsk starting from February 7, 2023. YEREVAN, January 16, /ARKA/. Fly Arna, Armenia’s national airline and a joint venture company between Armenian National ...
01/16/2023Fly Arna launches new flights to Saint Petersburg
Аly Arna, Armenia’s national airline and a joint venture company between Armenia's National Interest Fund (ANIF) and Air Arabia Group, announced the launch of new direct flights to Saint Petersburg city in Russia. YEREVAN, January 12, /ARKA/. Fly Arna, Armenia’s national airline and a joint venture company between Armenia's National Interest Fund (ANIF) ...
01/12/2023Fly Arna announces launch of new direct flights from Yerevan to Moscow
Fly Arna, Armenia’s national airline and a joint venture company between Armenian National Interest Fund (ANIF) and Air Arabia Group, announces the launch of new direct flights to Sheremetyevo International Airport in Moscow, Russia. YEREVAN, January 3. /ARKA/. Fly Arna, Armenia’s national airline and a joint venture company between Armenian National ...
01/03/2023Armenian National Interests Fund facilitates $214 million investment in Armenia over past 3 years
... around 800 jobs in 2021-2022. As a result of the three-year activity of ANIF, a total of 214 million dollars was invested in various sectors of the Armenian economy, 91% of which was invested by the partners, and 9% by ANIF. At the end of this year ANIF’s ARFI (Armenia Financed) crowdfunding platform was launched, which will provide an opportunity to attract investments from all over the world in private businesses and start-up projects in Armenia. Several new projects are underway to be launched next year. ...
12/27/2022ANIF no longer to manage government's stake in Zangezur combine
The Armenian National Interests Fund (ANIF) will no longer manage the government's stake in the Zangezur Copper and Molybdenum Combine (ZCMC). YEREVAN, December 22. /ARKA/. The Armenian National Interests Fund (ANIF) will no longer manage the government's stake in the Zangezur Copper ...
12/22/2022ANIF’s new contribution in Armenia's agricultural sector
Armenian National Interests Fund (ANIF) said today its subsidiary “Entrepreneur + State” Investments Fund is launching a new investment project jointly with the “K&G” company. YEREVAN, December 16, /ARKA/. Armenian National Interests Fund (ANIF) said today its subsidiary ...
12/16/2022AI, figital and banking ecosystems - FINTECH360 international conference was held in Yerevan
... Yeganyan, General Director of AMX, Samson Avetyan, co-founder of AICA&CrowdVentures, Edgar Evoyan, Head of ARFI platform at ANIF, took part in the discussion. Dmitry Dorofeyev, portfolio manager of Armbrok, shared his vision of the topic: he prepared ... ... Donets, chief economist for Russia and the CIS at Renaissance Capital, delivered a report titled "The Global Flood and the Armenian Ark of Economic Growth.' During the panel discussion moderated by Alma Obayeva, Chairman of the Board of Directors of ...
11/10/2022Fly Arna launches flights between Armenian and Georgian capitals
... departing from Yerevan at 16:55 local time and from Tbilisi at 18:20 local time. It is the fifth route of the airline, after Jordan, Sharm-el-Sheikh (Egypt), Moscow, and Sochi (Russia). Fly Arna is the national airline of Armenia, a joint venture of the Armenian National Interests Fund (ANIF) and the Air Arabia group. -0-
10/12/2022Fly Arna launches flights between Yerevan and Sochi and Yerevan and Moscow
... Yerevan and Sochi on Wednesdays, Fridays and Sundays and 14 weekly flights between Yerevan and Moscow from Zvartnots International Airport to Domodedovo International Airport in Moscow. Fly Arna is the national airline of Armenia, a joint venture of the Armenian National Interests Fund (ANIF) and the Air Arabia group. -0-
09/23/2022Yerevan Council of Elders elects Tigran Avinyan as Vice-Mayor
Yerevan's Council of Elders (the legislative assembly of the Armenian capital) is discussing today the appointment of Tigran Avinyan, chairman of the board of the Armenian National Interest Foundation (ANIF) and former Deputy Prime Minister, as the capital's vice-mayor. YEREVAN, September 23. /ARKA/. Yerevan's Council of Elders (the legislative assembly of the Armenian capital) is discussing today the appointment of Tigran Avinyan, chairman of the ...
09/23/2022Fly Arna launches flights between Yerevan and Russian Sochi
... to the company's press service. Three weekly flights will be operated between Zvartnots International Airport and Sochi International Airport on Wednesdays, Fridays and Sundays. Fly Arna is the national air company of Armenia, a joint venture of the Armenian National Interests Fund (ANIF) and the Air Arabia group. -0-
09/02/2022Another 6.875% of shares of Zangezur Combine handed over to government of Armenia
... Armenian government’s decision adopted today, some 188,947 shares of the Zangezur Copper and Molybdenum Combine CJSC (6.875% of the total number of shares) will be handed over to the government, which will hand them over to the trust management of the Armenian National Interest Fund (ANIF). YEREVAN, August 24. /ARKA/. Under an Armenian government’s decision adopted today, some 188,947 shares of the Zangezur Copper and Molybdenum Combine CJSC (6.875% of the total number of shares) will be handed over to the government, which will ...
08/24/2022Fly Arna launches new direct flights to Moscow
Fly Arna, Armenia’s national airline and a joint venture company between the Armenian National Interests Fund (ANIF) and Air Arabia Group, has announced the launch of its third destination connecting Yerevan to Moscow, the capital city of Russia. YEREVAN, August 19, /ARKA/. Fly Arna, Armenia’s national airline and a joint venture company between the Armenian ...
08/19/2022Pashinyan: import, production and sale of fire-hazardous products should be carried out by licensed companies only
...," said the prime minister. The public debate on banning the import and use of fireworks and other pyrotechnical products in Armenia intensified after last Sunday’s explosion at a fireworks wharehouse at Surmalu market in Yerevan that killed 16 people ... ... injured more than 60 others. A former Deputy Prime Minister Tigran Avinyan, who is now Chairman of the National Interests Fund (ANIF), argued that free use of such products not only violates public life and peace of people, but also often results in bodily ...
08/18/2022Utair launches flights between St. Petersburg and Yerevan; Fly Arna makes maiden flight from Yerevan to Sharm-El-Sheikh
... July 4 at 11 am and landed at Sharm-el-Sheikh Airport at 12.25 pm local time. From now on Fly Arna will operate three flights a week to Sharm-el-Sheikh on Tuesdays, Thursdays and Saturdays. Armenian national air carrier Fly Arna is a joint venture of Armenia’s National Interests Fund (ANIF) and Air Arabia (UAE). Fly Arna carried out its first commercial flight from Yerevan to Egyptian Hurghada on July 4 (takeoff at 07:00 and landing at 08:40 local time). On June 23 Fly Arna opened an office in Yerevan. Its base airport is Zvartnots ...
07/06/2022Fly Arna carries out inaugural flight to Egyptian Hurghada
... equipped with SkyTime, a free streaming service that allows passengers to take advantage of a wide range of entertainment for viewing during the flight. About Fly Arna Airlines Fly Arna is Armenia's national airline and a joint venture between the Armenian National Interest Fund (ANIF) and Air Arabia Group. Based at Yerevan's Zvartnots International Airport, FlyArna follows Air Arabia's budget business model, offering convenience, reliability and low-cost air travel. Fly Arna opened an office in Yerevan on June 23. -0-
07/04/2022Fly Arna inaugurates its office in Yerevan
Fly Arna, Armenia’s national airline and a joint venture company between the Armenian National Interests Fund (ANIF) and Air Arabia Group, celebrated the inaugural of its main office located on the Ground floor, Old VIP building at Zvartnots International Airport in Yerevan. YEREVAN, June 23, /ARKA/. Fly Arna, Armenia’s national airline and a joint ...
06/23/2022Chief of Armenia's Civil Aviation Committee resigns
... airlines in the world," said Revazyan. Earlier, on June 10, the first aircraft of Armenia's national airline Fly Arna has arrived at Yerevan's Zvartnots International Airport. Fly Arna, Armenia's national airline is a joint venture company between the Armenian National Interests Fund (ANIF) and Air Arabia Group. On June 3 Fly Arna received the Air Operating Certificate (AOC) and Air Operator License (AOL), which allow it to start operating from Yerevan’s Zvartnots International Airport. ANIF and Air Arabia Group announced the launch ...
06/13/2022Fly Arna's maiden flight scheduled for July 3 from Yerevan to Hurghada
... resort of Hurghada on the Red Sea. YEREVAN, June 10. /ARKA/. Armenia's national air carrier, Fly Arna, said today its maiden flight is scheduled for July 3 to Egyptian resort of Hurghada on the Red Sea. Fly Arna is a joint venture company between the Armenian National Interests Fund (ANIF) and Air Arabia Group. "The flight G6501 will take place from Zvartnots International Airport in Yerevan to Hurghada International Airport on July 3 this year," ANIF said in a press release. Fly Arna's destinations will also include direct ...
06/10/2022Fly Arna brings first aircraft to Zvartnots airport in Yerevan
... Zvartnots International Airport. YEREVAN, June 10. /ARKA/. The first aircraft of Armenia's national airline Fly Arna has arrived at Yerevan's Zvartnots International Airport. Fly Arna, Armenia's national airline is a joint venture company between the Armenian National Interests Fund (ANIF) and Air Arabia Group. "This is the beginning of a new chapter, new quality and new criteria of Armenian aviation," Tigran Avinyan, ANIF Board Chairman, wrote on his Facebook page. On June 3 Fly Arna received the Air Operating Certificate ...
06/10/2022Fly Arna receives Air Operator License
Fly Arna, Armenia’s national airline and a joint venture company between the Armenian National Interests Fund (ANIF) and Air Arabia Group, today announced that it has received its Air Operating Certificate (AOC) and Air Operator License (AOL), which allow it to start operating from Yerevan’s Zvartnots International Airport. YEREVAN, June 3, /ARKA/. Fly Arna,...
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