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Construction of largest solar power plant in Armenia jointly with Emirati company MASDAR will start in early 2026
... 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
... 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
... consider it right to discuss the current criminal procedures,’ Argishti Kyaramyan said. As for the defendants, he said there are none at the moment. The criminal case was initiated in 2022 for alleged abuse of authority and embezzlement on a large scale. ANIF was established in 2019 with the aim of attracting foreign investment under the Entrepreneur + State partnership. Its scope covered renewable energy, agriculture, healthcare, services and tourism, among others. During the first four years of its existence, the Fund has implemented about a dozen investment projects together with Armenian ...
10/15/2024Yerevan Mayor accuses former minister Kerobyan of telling a lie
Yerevan Mayor Tigran Avinyan accused today former Economy Minister Vahan Kerobyan of lying, when claiming that he failed to provide a report on the activities of the Armenian National Interest Fund (ANIF) when serving as Chairman of its Board. YEREVAN, 24 July. /ARKA/. Yerevan Mayor Tigran Avinyan accused today former Economy Minister Vahan Kerobyan of lying, when claiming that he failed to provide a report on the activities of the Armenian National ...
07/24/2024Air Arabia to sue Armenia over Fly Arna dispute
... 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 ten investment projects in collaboration with Armenian and foreign investors. However, about a year and a half ago,...
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
... 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
... 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
... 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
... Ispiryan. YEREVAN, January 31. /ARKA/. Armenian Prime Minister Nikol Pashinyan has dismissed today Deputy Minister of Economy Ani Ispiryan. Earlier, Ispiryan was appointed as Chair of the Board of Directors of the Armenian National Interests Fund (ANIF) replacing Dominique de Villepin. Edgar Mkrtchyan (Chief of Staff of Deputy Prime 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,...
01/31/2024Armenian Fly Arna announces suspension of flights
... 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
... billion drams ($210 million) in direct investments. According to the press service of the Fund, of this amount $10 million were channeled into the Armenia's national airline Fly Arna, and $200 million into the "Ayg-1" solar power plant project. ANIF also made investments in the domestic market through the program "Entrepreneur + State Anti-crisis Investments" in 2021-2023. Thus, 7.8 billion drams were invested directly by ANIF, 900 million drams were co-invested by private partners, and over 1.9 billion drams were attracted from commercial banks. ANIF was ...
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
... 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 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. 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),...
12/25/2023FlyArna denies rumors about suspension of flights
... 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
Fly Arna, Armenia’s national airline and a joint venture company between ANIF and Air Arabia Group, announces a significant milestone in its commitment to ensuring safety and operational excellence. The airline has been successfully registered as an IOSA Operator under the IATA YEREVAN, August 21, /ARKA/. Fly Arna, Armenia’s ...
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
... seed to table” concept. The Fund made an equity investment in the company around 2 years ago and has now sold its share back to the “Father and Son Yeremyans” by mutual agreement. The project will continue to operate without the participation of ANIF’s “Entrepreneur + State Anti-Crisis Investments Fund”. The total cost of the project was AMD 1,085,500,000, of which the Fund’s contribution was AMD 265,925,000. “For two years, the investment of the fund fully fulfilled its mission, contributing to ...
08/04/2023Armenia's National Interest Fund records net profit of about $4.6 million in 2023
... plant a joint project of ANIF and Abu Dhabi based Masdar company, is ready for the construction phase. About 200 million US dollars will be invested in the construction of the station, and operation is planned to start in 2025. With the assistance of ANIF’s subsidiary, “Entrepreneur+State” investment Fund, a total of eight investment projects were launched in two years. In this short video the management of ANIF and representatives of partner organizations talk about the successful projects, economic achievements of ...
07/26/2023Fly Arna to launch Yerevan-Tehran-Yerevan flights
... 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
... 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
Fly Arna, Armenia’s national airline and a joint venture company between ANIF and Air Arabia Group, announces the launch of new direct flights to Kuwait city effective June 22, 2023. YEREVAN, May 29, /ARKA/. Fly Arna, Armenia’s national airline and a joint venture company between ANIF and Air Arabia Group, announces ...
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) subsidiary “Entrepreneur ...
05/17/2023Armenia interested in further deepening of mutually beneficial partnership with Air Arabia
... 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
... 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
... 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
... Masdar. The environmental impact assessment (EIA) for the construction has been underway this year and will be completed in the near future. A tender for the construction of the station is expected to be announced after the EIA process is completed. ANIF’s subsidiary, “Entrepreneur + State” Investment Fund is currently implementing a total of seven investment projects. One of the projects, Hard Rock Cafe Yerevan, launched in July 2022 jointly with Food Republic, already became one of the favorite dining places for ...
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
... large-scale production of strawberries for export. The partner company “K&G” was founded in 2015 and already has two greenhouses with a total area of 6 hectare. The third greenhouse will be built as a result of the implementation of a joint project of ANIF with the “Entrepreneur + State” investment fund. The company exports almost all of its products. Greenhouse equipment is supplied by the French company “Richel”, which is one of the leaders in the industry. Strawberries are grown hydroponically without pesticides ...
12/16/2022AI, figital and banking ecosystems - FINTECH360 international conference was held in Yerevan
... Philippe Delmotte, Director of POD Consulting FFF, Jerome Clausen, Special Advisor for Caucasus and Central Asia of BPIFRANCE, Hayk 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 a report titled "Portfolio Investments for Private Individuals: Time for Change.' Svetlana Markova, chief consultant at ...
11/10/2022Fly Arna launches flights between Armenian and Georgian capitals
... 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
... 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
... 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
... 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
... intensified after last Sunday’s explosion at a fireworks wharehouse at Surmalu market in Yerevan that killed 16 people and 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 injuries. --0--
08/18/2022Utair launches flights between St. Petersburg and Yerevan; Fly Arna makes maiden flight from Yerevan to Sharm-El-Sheikh
... 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
... 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
... 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
... 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
... 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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