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Lydian Armenia donates 12.5 per cent of its shares to Armenian government
... ‘The development of the Amoulsar mine is one of such megaprojects. Another megaproject is the North-South road and the third one is the Academic City,’ the Minister stated, adding that private companies often prefer to turn to the government for assistance in the implementation of certain projects. In February 2023, the government of Armenia, the Eurasian Develoment Bank (EDB) and Lydian Armenia signed a Memorandum of Understanding, according to which the parties were ready to attract about $150 ...
12/28/2024Armenia to revamp benefits system placing focus on employment
... application for benefits is submitted, the possibility of employment will be considered first, followed by the issue of providing benefits. "We have about 30,000 working-age citizens who are part of the benefits system. These individuals, while receiving assistance, do not have disabilities and are not responsible for people whose care would limit their ability to enter the labor market. We will offer various employment programs, and if a person continues to refuse job offers, we will begin to reconsider ...
12/27/2024Russia allocates $68m to fund school meals programme in Armenia
... about $390,000 - are being used to develop school infrastructure and improve the nutrition of students,’ Zakharova said at a press briefing on Wednesday. According to her, within the framework of the UN World Food Programme, in addition to providing assistance to Armenian schools, Russia actively uses the potential of other UN organizations. ‘The UN Development Program is developing the country's rural regions, nature tourism, creating jobs for young people, increasing Armenia's resilience to climate ...
12/26/2024State department responds to Aliyev's claims of U.S. arming Yerevan
... accusations regarding the arming of Armenia. YEREVAN, December 25. /ARKA/. Official Washington has responded to the Azerbaijani president’s accusations regarding the arming of Armenia. The State Department told Radio “Azatutyun” that U.S. security assistance to both Armenia and Azerbaijan is aimed at strengthening cooperation with U.S. and NATO forces to enhance the professionalism of their armies, as well as to reinforce the two countries' shared border with Iran. In his latest interview with ...
12/25/2024New system for assessing insecurity being developed in Armenia
... to November of last year. As the minister noted, one of the important features of the new system is that a person will have the opportunity to work with the state and exit insecurity, at least in the early stages, without losing the amount of their assistance. "If we see that a person is offered a job once or twice and refuses to work, while continuing to expect assistance from the state, we will apply an attribution system," he said. Mkrtchyan further explained that if there is a working-age ...
12/25/2024Yerevan City Hall launches new website for easy travel ticket purchases
... their place of registration (15% discount) Students who have lost one parent or are orphans (free travel) People with disabilities of the 1st and 2nd degrees (free travel) Orphanage residents and nursing home residents People receiving state benefits or assistance (20% discount) Heroes of the former USSR, Socialist Labor Heroes, national heroes of Armenia, and holders of the Order of Glory (free travel) Parents with four or more children (free travel)
12/23/2024Russia to supply more than 1.5 million doses of FMD vaccine to Armenia
... session of the Intergovernmental Commission on Economic Cooperation between Russia and Armenia. The Russian Export Centre (REC Group, part of VEB.RF) is a state agency supporting non-resource non-energy exports, providing financial and non-financial assistance to companies of all industries at all stages of entering foreign markets.
12/23/2024Yerevan's public transport revolution: What passengers can expect in 2025
... students who have lost one parent or are orphans. Free transport for individuals with 1st and 2nd degree disabilities. Free transport for children from orphanages and residents of retirement homes, as well as individuals receiving government benefits and assistance. 20% discount for heroes of the former USSR, Social Labor heroes, national heroes of Armenia, and holders of the Order of Glory. Free transport for parents of large families with four or more children.
12/20/2024Unibank named best bank for high-net-worth individuals in the CIS
... diversification options. A personal manager is always in contact with the client and is ready to provide support at all stages of service. The resolution of financial matters is complemented by lifestyle management services, including hotel bookings, assistance with real estate transactions, as well as organizing medical care, education, and leisure abroad. Even if a client needs to book a table at a famous restaurant or purchase tickets for the opera, the Unibank Privé concierge service will take ...
12/19/2024Converse Bank has been included in the list of Confirming Banks of the EBRD TFP
... noted that Converse Bank offers its customers comprehensive solutions in international trade finance operations, ensuring maximum efficiency of transaction structuring and financing alongside with covering non-payment risks. Moreover, the Bank provides assistance and guidance to its customers throughout the entire trade finance transaction cycle, providing consultancy at the trade contract negotiations’ stage and deal structuring up to financing of the project.-0-
12/16/2024Turkey only needs to invest $2.5 billion in Armenia's economy to take control of it, says CCAF head
... subjugate and weaken Armenia,’ Papazian asserted. He also expressed concern that such a policy is carried out with the consent and assistance of the Armenian authorities. He added that the search for ways to normalise relations with Turkey is necessary, but ... ... closed its border to Armenia in 1993 in solidarity with Azerbaijan, which was embroiled in a conflict with Armenia over Nagorno-Karabakh. In December 2021, Armenia and Turkey appointed special envoys to normalise relations, who have held several meetings ...
12/14/2024USAID has invested about $1.3bn in Armenia - Armenia Mission Director
... capable of developing into a democratic nation. Regardless of who is in power, we have tried to work with both the authorities and citizens. We seek to establish a dialogue between the authorities and the people of Armenia,’ he said. Speaking about assistance to civil society and media, Allelo said that USAID seeks to bring the voice of the people to the authorities, to establish this dialogue so that the government can determine which programs are important to the citizens. ‘In terms of media,...
12/14/2024Armenia's industrial potential has considerable development prospects in EEU - Pashinyan
... is highlighting the possibilities of provided by the financial support mechanism for co-operation projects. He said this is being done for enterprises in Armenia to participate in them. ‘The key moment was the launch of the mechanism of financial assistance to co-operation projects. This is a significant step to increase the competitiveness of the industry of our states and with the right approach it can contribute to the creation of high-tech industries and expansion of industrial cooperation,...
12/13/2024Armenia extends housing program for retired military
... were transferred to the off-budget deposit account opened for the Armenian Ministry of Defense. The program remained valid until December 1, 2024. As of September 10, 2024, applications of some 657 beneficiaries had been approved. The total amount of assistance was 5.69 billion drams. Of this, 564 families received non-repayable state financial support through apartment purchase certificates (totaling 4.78 billion drams). The remaining balance amounted to 921.7 million drams. Currently, the apartment ...
12/12/2024EBRD and EU, together with Galt & Taggart and Ameria Management Advisory launch a programme to support the Armenian capital market
... capital market, valued at approximately 500,000 euros. "The development of the capital market is one of the most important factors in the investment sector and is essential for Armenia's financial depth. Today, the EBRD is launching a technical assistance program. The tender was awarded to a consortium of two companies, Galt & Taggart (Georgia) and Ameria Management Advisory," said Tigran Jrbashyan, head of the Ameria consulting company, at a conference marking the program's launch. According ...
12/11/2024Roots Furniture: from idea to big Armenian furniture business (video)
... out without emission of waste, a special dust removal system has been installed to collect sawdust on the territory of the factory and turn it into fuel, this way solving also the issue of heating. Roots Furniture's partner is Acba Leasing, with whose assistance the company has purchased solar panels and added specialised technology, expanding and automating production and zeroing out electricity costs, according to the Acba Bank press office. ‘Years ago, by delving into automation, robots and robotics,...
12/11/2024Armenia and France sign defence cooperation programme for 2025
... reaffirmed the strategic importance of the active co-operation of the last period and set an even higher bar for the expansion of the partnership. Special importance was attached to cooperation in defence planning, military education and exercises, advisory assistance and training of different types of troops. The delegation headed by Escorcia was received by Lieutenant General Edward Asryan, Chief of the General Staff of the Armenian Armed Forces. The priorities of the transformation process of the Armenian ...
12/11/2024WB may assist Armenia in expanding tourism clusters in the country
... their financial components, the framework of priority actions and possible implementation deadlines. The perspectives of the development of tourism industry in Armenia were also touched upon. The possibilities of expanding the tourism clusters with the assistance of the WB were emphasised. In particular, a number of issues related to Gyumri cluster were discussed. About WB programmes in Armenia Since the start of its operations in Armenia in 1992, the World Bank has provided about $2.7 billion worth ...
12/06/2024Ardshinbank Partners with the European Investment Bank to Improve Climate Risk Management
Ardshinbank has begun a strategic technical assistance initiative with the European Investment Bank (EIB) within the framework of the Greening Financial Systems program. YEREVAN, December 5. /ARKA/. Ardshinbank has begun a strategic technical assistance initiative with the European Investment ...
12/05/2024Armenia boosts defense to support education development - Finance Minister
... for 2025, there are essentially two main areas where expenditures will increase significantly: the defense budget, which will rise by 20% (a substantial amount), and social security, which accounts for the growing number of pensioners and other social assistance programs," he said. Hovhannisyan pointed out that there is a certain nuance to this. “We are strengthening our defense capability to be able to build schools and develop the education sector, which is the most important investment for ...
12/05/2024Artsakh refugees outraged by Armenian government's decision to cut their aid
... and utilities, Artsakh human rights defender Gegham Stepanyan said today. YEREVAN, 29 November. /ARKA/. Artsakh (Nagorno-Karabakh) refugees have taken with great dissatisfaction the Armenian government's decision to reduce the financial aid provided ... ... human rights defender Gegham Stepanyan said today. The decision defines the categories of people who will continue to receive assistance after April 2025. ‘This is a wrong approach, as these funds are provided to pay for housing and other expenses. The ...
11/29/2024Armenia to receive €12.9 million from European Commission for nuclear safety enhancement
Armenia will receive financial assistance of 12.9 million euros from the European Commission to enhance nuclear safety. YEREVAN, November 28. /ARKA/. Armenia will receive financial assistance of 12.9 million euros from the European Commission to enhance nuclear safety. The relevant ...
11/28/2024EBRD expected to approve Armenia Country Strategy in first quarter of 2025
... economy,' she said. According to her, next month with the support of EU, EBRD will be launching Capital Markets Support Program to boost the local capital markets and create alternative financing solutions for the local SMEs. The programme aims to provide assistance to Armenian corporate issuers of bonds and equity, through tailored capacity-building and grant co-financing of issuance-related expenses. 'We look forward to delivering impact through financing key water and solid waste infrastructure, where ...
11/26/2024EBRD has invested record 2.4 billion euros in Armenia - EBRD Managing Director for Turkey and Caucasus (EXCLUSIVE)
... integration into global economy. Next month with the support of EU, we will be launching Capital Markets Support Program to boost the local capital markets and create alternative financing solutions for the local SMEs. The programme aims to provide assistance to Armenian corporate issuers of bonds and equity, through tailored capacity-building and grant co-financing of issuance-related expenses. We look forward to delivering impact through financing key water and solid waste infrastructure, where ...
11/26/2024Armenia counts on DFC's contribution to financing of SME, capital market and agro sector- minister
... developing countries, the press service of the Ministry of Economy reported. ‘This cooperation is important not only in the context of financing,but also opening opportunities for those who have ideas and determination, but lack the means. With your assistance, we can take a step forward towards building a developing and inclusive economy,’ Papoyan was quoted as saying. Key issues discussed during the meeting included support for SME programmes and capital market development, housing for refugees,...
11/25/2024Financial aid for forcibly displaced Artsakh residents in Armenia to be reduced
... on Thursday, the Armenian government decided to reduce the financial assistance allocated to forcibly displaced residents of Artsakh. YEREVAN, November 21. /ARKA/. At a meeting on Thursday, the Armenian government decided to reduce the financial assistance allocated to forcibly displaced residents of Artsakh (Nagorno-Karabakh). Currently, refugees who do not own property in Armenia receive monthly financial assistance of 40,000 drams for housing rental, plus an additional 10,000 drams for utility costs. According to the Minister of Labor and Social Affairs, Narek ...
11/21/2024Yerevan approves fare discounts on public transport
... the place of registration (15% discount), students who have lost one parent or orphaned students (free), persons with disabilities of the 1st and 2nd degrees (free), pupils of orphanages and residents of nursing homes, persons receiving benefits and assistance from the state (20% discount), heroes of the former USSR, Socialist Labor Heroes, national heroes of Armenia, holders of the Order of Glory (free), parents from large families with 4 or more children (free). About unified ticket system Now ...
11/19/2024Yerevan city hall sees no issues for launching unified ticket system from next January 1
... Labor heroes, national heroes of Armenia, and holders of the Order of Glory (free), as well as parents in large families with four or more children (free),” Grigoryan noted. Commenting on the question of benefits for displaced persons from Nagorno-Karabakh, Grigoryan avoided giving a direct answer, merely noting that the state has implemented, and continues to implement, numerous assistance programs for them. About unified ticket system Now in Yerevan, one trip in bus and metro costs 100 drams, in trolleybus - 50 drams. According to the city hall’s project, from January 1, 2025, travel tickets will cost - 90 minute ticket - ...
11/19/2024Georgia ready to mediate Yerevan-Baku talks
... some other capacity, we will always express our readiness in this regard,” TASS quotes Kobakhidze as saying. The Georgian Prime Minister emphasized that this readiness continues to stand. "If there is mutual interest, we are ready to offer our assistance and support to our two neighboring countries," Kobakhidze said. -0-
11/15/2024Under pressure from the West, Yerevan froze its participation in trilateral working group - Zakharova
... has frozen its participation in the trilateral working group (set up by Armenia, Azerbaijan and Russia after the 2020 Nagorno-Karabakh war) on reopening regional communications, Russian Foreign Ministry spokesperson Maria Zakharova said at a press briefing ... ... guarantee of stability and security in this part of the planet. "The Russian side is ready to continue to provide comprehensive assistance to Azerbaijani and Armenian partners in order to achieve sustainable peace and prosperity in the region on the basis ...
11/13/2024Acba bank and American Express Expand Collaboration in Armenia
... local American Express® Blue and Gold Card Members can earn Membership Rewards® points on every spend. Local American Express® Gold Card Members can specifically enjoy access to more than 1400 airport lounges worldwide, comprehensive insurance and assistance as well as a range of exclusive offers . Through this agreement, Acba bank aims to continue increasing the number of locations that accept American Express in Armenia and continuing to service American Express Card Members in the country. ...
11/13/2024Trump may nominate Marco Rubio, who voiced support for Armenia, as U.S. Secretary of State
... Interfax reported citing Axios. The portal characterises Rubio as a ‘foreign policy hawk’. In November 2023, Rubio supported the Armenian Protection Act, passed by the Senate, which provides for a ban on the US president's military-technical assistance to Azerbaijan. Rubio stated that American taxpayers' money should not go to Azerbaijan, a country that has brought instability to the region. In April 2024, Rubio voted against providing $95bn in aid to Kiev and ‘urged Ukraine to negotiate ...
11/12/2024Pashinyan identifies the main problem facing small communities
... discussions and visits, I have become concerned about the state of communities inhabited by national minorities. Although we have made several changes to the subsidy system to expand opportunities for supporting national minority communities, we also provide assistance through other forms of subsidies," Pashinyan said at an event marking the 28th anniversary of the local self-government system in Armenia on Monday. According to him, not only will these measures fail to fill this gap, but the gap is also ...
11/11/2024Armenia to receive €270 million in EU assistance over 4 years and two €13.8 million grants in 2025
Armenia will receive €270 million in assistance from the EU over 4 years, along with two grants totaling €13.8 million in 2025 YEREVAN, November 5. /ARKA/. Armenia will receive €270 million in assistance from the EU over 4 years, along with two grants totaling €13.8 million in 2025 ...
11/05/2024Assistance program for Nagorno-Karabakh refugees extended until March 2025 – Minister
The Armenian government has extended until 2025 March an assistance program, designed for refugees from Nagorno-Karabakh, Labor and Social Affairs Minister Narek Mkrtchyan said today. The assistance amount is 50,000 drams for each refugee. YEREVAN, November 4. /ARKA/. The Armenian government has extended until 2025 March an assistance program, designed for refugees ...
11/04/2024"Not Armenian cognac, but brandy": Economy Minister discusses Armenia's new positioning
... parliament. According to him, it will eventually become impossible to use the term 'cognac' because it is a geographical name (referring to one of the provinces of France), and it can no longer be applied in international markets. "In 2023, thanks to assistance programs, 11.4 million liters of grape alcohol were exported. Similar figures have been recorded this year. When the export volume exceeds 100,000 liters, we provide 100 drams per liter as support, effectively reimbursing the amount of the ...
11/04/2024Plug and Play is already in Armenia: 10 Armenian startups will travel to Silicon Valley
... Industry of Armenia and Plug and Play, selected as a result of a competition, was concluded on August 15, 2024. Some 336 million drams were allocated for conducting the competition. The platform will provide technological startups with consulting services, assistance in business development and networking, as well as personalized mentorship. Out of 119 startups, 20 were selected to participate in the program. Why is this important? "The goal of the program is to bring an international accelerator ...
11/01/2024Armenia subsidizes 50% of companies' expenses for certifying goods for export to foreign markets
... in parliament. The Minister stated that the state is also ready, with certain restrictions, to assist all companies that export products to new markets and to subsidize part of their logistics costs. "We are currently planning various types of assistance aimed at promoting exports, increasing the presence of Armenian goods in new markets, and raising standards," Papoyan said. -0-
11/01/2024US DFC corporation to help develop capital market in Armenia
... primarily in lower and middle-income countries. DFC's lending capacity is used to provide loans, loan guarantees, direct equity investments, and political risk insurance for private-sector led development projects, feasibility studies, and technical assistance. [ DFC invests across several sectors including energy, healthcare, critical infrastructure, and technology, with stated priorities of women's empowerment, innovation, investment in West Africa and the Western Hemisphere, and climate change....
10/23/2024Alen Simonyan says why Azerbaijani parliament speaker cancelled planned meeting in Geneva
... hinder the peace process. The resolution also emphasised the importance of the European Union Civilian Mission in Armenia (EUMA) and its contribution to stability in the border areas. The resolution emphasised the need to ensure continued humanitarian assistance for the 115,000 Armenian refugees from Nagorno-Karabakh, as well as to address the problems of Armenian prisoners of war, other detainees held in Azerbaijan. The organization reiterated its concern over the destruction of cultural heritage in Nagorno-Karabakh and the support of its member countries ...
10/20/2024EBRD and Ernst & Young to conduct study on competitiveness of small and medium-sized companies in Armenia
The Armenian Ministry of Economy in cooperation with the EBRD and with the assistance of Ernst & Young, an international audit and consultancy corporation, has initiated a study on the competitiveness of Armenia's small and medium-sized enterprises (SMEs). YEREVAN, 16 October. /ARKA/. The Armenian Ministry ...
10/16/2024Over $1bn invested in Armenia's economy with Ameriabank's assistance - Ameriabank CEO
Funds equivalent to more than $1 billion have been attracted from international financial organisations for on-lending to the Armenian economy since the bank started its operations, Ameriabank CEO and Board Chairman Artak Hanesyan said. YEREVAN, 16 October. /ARKA/. Funds equivalent to more than $1 billion have been attracted from international financial organisations for on-lending to the Armenian economy since the bank started its operations, Ameriabank CEO and Board Chairman Artak Hanesyan...
10/16/2024Most modern medical equipment on exceptional conditions from Acba Leasing
... life of the population,’ said Vahagn Shmavonyan, Head of Acba Leasing's Vendor Relations Department. 'We have found sponsors who understand the need to fight this serious disease. I would especially like to thank Acba Leasing, which provided such assistance for completely re-equipping the centre,’ said Hranush Hakobyan, co-founder of the Armenian-American Wellness Centre. ‘Thanks to Acba Leasing, we were able to purchase rather expensive and modern equipment on rather easy terms,’ said Khachanush ...
10/12/2024Armenian government allocates 300 million drams to help victims of floods in Lori and Tavush
... replacing the pavilion with a simpler one will allow for savings about 2.1 billion drams. Of this amount, 300 million drams will be sent to entrepreneurs affected by the floods in Lori and Tavush regions. At the moment, there are 74 applications for assistance, and there will be 150 beneficiaries in total. As Papoyan noted, the rest of the savings will be invested in other programs. Consequences of the flood An emergency situation developed in Tavush and Lori due to the heavy rains that fell on ...
10/03/2024Armenia to deal with the issue of employment and housing of Artsakh refugees
... the issue of meeting the needs of Artsakh r/Тфпщктщ-Лфкфифлр% efugees forcibly displaced by the Azerbaijani aggression in September 2023 at the Warsaw Security Forum. Speaking at a panel discussion within the forum, Mirzoyan praised the assistance of the international community a year ago during the reception of Artsakh refugees and meeting their primary needs. ‘Now, in the next stage, we have to think about short-term and long-term plans to meet these needs. There is a problem of ...
10/02/2024Canada supports negotiated political solution to Nagorno-Karabakh issue
... International Court of Justice provisional measures orders. “Canada stands in solidarity with the people affected by this crisis and is grateful to Armenia for opening its doors. That is why, in 2023, we dedicated more than $3.9 million in humanitarian assistance to address urgent needs stemming from the situation in Nagorno-Karabakh. “Canada continues to call for, and support, meaningful negotiations toward a comprehensive peace treaty between Armenia and Azerbaijan, and the continuation of dialogue and confidence-building measures between the parties for a just and durable ...
09/23/2024U.S. ready to continue assistance in promoting Armenia's democratic reforms: State Department
... of institutional reforms in our country. Nikol Pashinyan stressed the need to implement targeted programs in Armenia with US support, including in the direction of improving infrastructure. Joshua Huck emphasized the readiness of the US to continue assistance in promoting democratic reforms in Armenia and noted that the expansion of programs and the increase in the volume of funding by the US Agency for International Development are aimed at this very goal. The interlocutors referred to the agreements ...
09/20/2024Pashinyan emphasizes importance of Armenia's relations with France
... The interlocutors discussed various issues of the Armenian-French relations, exchanged views on Armenia-EU interaction and highlighted the launch of the Visa Liberalization Dialogue and the decision of the European Peace Facility to provide financial assistance to Armenia. -0-
09/16/2024France to provide 29 million euros to assist refugees from Artsakh (Nagorno-Karabakh) – head of the Ministry of Foreign Affairs
... Foreign Affairs Stephane Sejourné in Yerevan. YEREVAN. September 16 /ARKA/. France will continue to provide humanitarian assistance to Armenia and will allocate 29 million euros to help refugees from Artsakh, said French Minister of Europe and Foreign ... ... Artsakh using artillery, UAVs and combat aircraft. On September 28, following negotiations with the Azerbaijani side, Nagorno-Karabakh President Samvel Shahramanyan issued a decree that all state institutions of the Republic would be dissolved and the ...
09/16/2024EDB inaugurates branded auditorium and PPP programme at RAU
The Eurasian Development Bank (EDB) continues the implementation of the technical assistance project on the development of public-private partnership (PPP) institutional environment and PPP competences building in the Republic of Armenia in partnership with the Russian-Armenian University (RAU), the bank's press ...
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