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Converse Bank and EBRD sign two loan facilities totaling US$ 8 million to support MSMEs and green projects
... practices in product quality and environmental protection, while also promoting the adoption of green technologies. Under the programme, Converse Bank’s clients will benefit from EU-funded technical assistance and investment incentives in the form of grants of up to 15% of the loan principal. The programme also includes a special component targeting individuals displaced in Armenia between 2020 and 2023. In addition to the standard grant incentives, additional support will be available to refugee-owned ...
05/15/2025Converse Bank Joins the Asian Development Bank's Green Finance Commitment
....” YEREVAN, May 7. /ARKA/. Converse Bank announces its participation in the Asian Development Bank’s (ADB) technical assistance program “Advancing Green Finance for Sustainable Development.” The relevant document was signed on May 7 by Mr. Grant Akopian, Chief Financial Officer and Deputy CEO of Converse Bank, and Mr. Asif Cheema, ADB Private Sector Financial Institutions Director. The “Advancing Green Finance for Sustainable Development” technical assistance program is a regional initiative ...
05/07/2025EU Green Agriculture Program Worth Around 13 Million Euros Is Being Implemented in Armenia
... Wednesday that Armenia has seen an increase in commercial agriculture in recent years. In response to a clarifying question from ARKA news agency about the program, Bokkers said that it started in 2019 and will end in May 2025. “The EU funding for the grant program amounted to 9.7 million euros, with another 3.6 million euros coming from the Austrian government,” Bokkers said. He also reported that over the past year, 80 farmers from Nagorno-Karabakh who settled in Armenia have received support. ...
04/02/2025Armenian Google or Online Business Transformation: Inevitability and New Horizons
... able to compete with these giants. However, I believe that instead of seeing marketplaces as enemies, we should view them as new opportunities for growth. Yes, the competition on these platforms is fierce, but this is the essence of a market economy. Competition drives businesses to improve, offer higher-quality goods and services, provide better conditions, and deliver superior service. Marketplaces are not only competitors but also powerful sales channels that grant access to a vast audience, not just within Armenia but beyond its borders. They offer ready-made infrastructure: logistics, warehouses, payment systems, and marketing tools. This enables small and medium-sized businesses to enter the market with ...
03/31/2025Armenia's 2025 budget introduces mechanism for carrying over unrealized capital expenditures to next year - Finance Ministry
... attract budget loans under 4 programs for a total of $322.5 million. The Stand-By Agreement with the IMF, which will end in 2025, is being implemented, but it is planned to be extended. “Six targeted loan programs worth $850 million were concluded, six grant agreements worth $40 million were also signed, grants in the amount of $16 million were received from the Global Concessional Financing Facility (GCFF, a WB structure) to co-finance the program for internally displaced persons from Nagorno-Karabakh,...
03/24/2025Armenia to receive $9.1 million grant for "RESILAND: Armenia's Sustainable Landscapes Program" implemented jointly with WB
The Armenian government has approved today a proposal to amend the draft grant agreement on “RESILAND: Armenia's Sustainable Landscapes Program” implemented jointly with the International Bank for Reconstruction and Development (IBRD, part of the World Bank) and the International Development Association (IDA, a WB unit)....
03/20/2025Armenia jointly with Korea and ADB to implement $300,000 “green urban development” project
Armenia will receive a $300,000 grant for the implementation of “Green Urban Planning in Armenia: Development of Energy Efficiency in Buildings” project. YEREVAN, March 7. /ARKA/. Armenia will receive a $300,000 grant for the implementation of “Green Urban Planning in Armenia: ...
03/07/2025Armenian State Revenue Committe and EBRD discuss border infrastructure development programs
... jointly with the EBRD, was also discussed. The parties expressed their readiness to implement the agreements reached and ensure the continuity of the cooperation. Earlier it was reported that the EBRD would provide Armenia with 12 million euros (loan plus grant) for the construction of a customs and logistics center in Syunik and a similar facility in Yerevan for 45 million euros. The EBRD will allocate another 23.5 million euros for the reconstruction and modernization of the Agarak checkpoint on the ...
02/21/2025Armenia approves participation in EU's Interreg NEXT program with a budget of more than 72 million euros
The Armenian government on Thursday approved a proposal to endorse the funding agreement for the Black Sea basin “Interreg NEXT” program with a total budget of 72 million 275 thousand euros and 65 million euros of EU grant funding. YEREVAN, February 13. /ARKA/. The Armenian government on Thursday approved a proposal to endorse the funding agreement for the Black Sea basin “Interreg NEXT” program with a total budget of 72 million 275 thousand euros and 65 ...
02/13/2025Ameriabank and Matenadaran sign memorandum of cooperation as part of ‘Return of Manuscripts” program
... Ameriabank will continue this important cooperation, hoping that it will inspire and unite many people around the preservation of the identity, heritage and values of the Armenian nation. As part of this initiative, starting February 20, Ameriabank will grant “Premium” status to anyone who donates at least AMD 4 million to Matenadaran and “Partner” status to those who donate at least AMD 20 million to acquire manuscripts or other items of historical and cultural value. Matenadaran will also provide ...
02/08/2025Stepan Gishyan charity starts accepting applications for grants up to AMD 5 million for 2025
The Stepan Gishyan charity foundation, run by Acba Bank, has announced today the launch of a grant competition, designed for legal entities. YEREVAN, February 5. /ARKA/. The Stepan Gishyan charity foundation, run by Acba Bank, has announced today the launch of a grant competition, designed for legal entities. The Bank said in a press release that ...
02/05/2025Ameriabank raises EUR 105 million from European Investment Bank for SME financing
... Armenia, which includes many different projects,” said Mr. Maciej Chura, Head of EIB Regional Office for the South Caucasus. He expressed hope that the fruitful cooperation between EIB and Armenia will continue also in 2025 and the years to come Grant assistance for smoothing currency risks “Our driving force is to promote prosperity and improve the living standards of our neighbors. Everything starts and ends with the economy, but we also need to enable people to live in dignity,” said ...
02/03/2025Income declaration in Armenia: A complete guide to everything you need to know
... engaged in independent professional activity during 2024 and received taxable income, you must file an income tax return this year. If the individual is a minor, the declaration must be filed by a parent, guardian, or trustee. 17. If you received a grant or scholarship in 2024, are you required to file a tax return? No, if you received a scholarship or grant during 2024, you are not required to file a return unless you were also employed, received taxable income under a civil law contract, or were ...
01/21/2025Over 700 km of roads repaired in Armenia in 2024 - minister
A total of 503 km of roads were repaired in Armenia in 2024 at the expense of the state budget and various grant programmes, Minister of Territorial Administration and Infrastructure of the Republic David Khudatyan said. YEREVAN, 10 January. /ARKA/. A total of 503 km of roads were repaired in Armenia in 2024 at the expense of the state budget and various ...
01/10/2025Armenia to receive €12.9m grant from European Commission to ensure nuclear safety
... approved a draft presidential decree on approval of the financial agreement with the European Commission on strengthening nuclear safety and improving radiation protection and radioactive waste management . The agreement envisages the allocation of a grant in the amount of 12.9 million euros for improving the safety of the Armenian NPP. The financial support will be provided for the implementation of a set of measures included in the national action plan developed as a result of the safety self-assessment ...
12/27/2024Armenian government establishes benefit for import of 2 thousand tons of butter
... butter imported from EEU member countries. The procedure for distributing imported butter, as well as the forms for one-time and main licenses, were also approved. Earlier, the Eurasian Economic Commission (EEC, the executive arm of EEU) Board decided to grant Armenia an exemption from import customs duties on butter imported into the country, with a limit of up to 2,000 tons. "In order to ensure the implementation of the provisions of the decision adopted by the EEC Board, it is necessary to develop ...
12/19/2024Converse Bank Deputy CEO and CFO, Grant Akopian, Elected to BACEE Board
Converse Bank is pleased to announce that Grant Akopian, its Deputy CEO and CFO, has been elected to the Board of Directors of the Banking Association for Central and Eastern Europe (BACEE). YEREVAN, 17 December. /ARKA/. Converse Bank is pleased to announce that Grant Akopian, its Deputy CEO ...
12/17/2024Converse Bank has been included in the list of Confirming Banks of the EBRD TFP
... EBRD and Converse Bank was signed on 14th November 2024. “Confirming Bank status is highly significant for us in terms of stimulating trade financing in Armenia and the entire region”, noted Converse Bank’s Chief Financial Officer, Deputy CEO Grant Akopian. Mr. Akopian added: “As a confirming bank for the EBRD TFP, Converse Bank will leverage its expertise in trade finance and its extensive network of international partners to provide comprehensive financial solutions to businesses engaged ...
12/16/2024EBRD and EU, together with Galt & Taggart and Ameria Management Advisory launch a programme to support the Armenian capital market
... programme The programme, implemented by the EBRD and the EU in partnership with Galt & Taggart and Ameria Management Advisory, in cooperation with the Ministry of Economy of Armenia, aims to support Armenian companies issuing bonds and securities through grant co-financing of specific expenses. The programme will be governed by Armenia's legal framework and will be built upon the capital markets infrastructure. This will broaden the financing sources for local companies and help attract investment from ...
12/11/2024EU allocates €1.5m grant to Armenia to help Nagorno-Karabakh refugee
The European Union has provided the Armenian government with a grant of 1.5 million euros to meet the needs of the refugees from Nagorno-Karabakh, the press service of the EU Delegation to Armenia reports. YEREVAN, 10 December. /ARKA/. The European Union has provided the Armenian government with a grant of ...
12/10/2024EBRD expected to approve Armenia Country Strategy in first quarter of 2025
... 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 the bank has a mandate to finance regional solid waste management facilities and number of water reservoirs....
11/26/2024EBRD to announce 44 million euro financing package for refugees in Armenia
... built to international energy efficiency standards and be one of the country’s first public structures to qualify as a “green building”. For the construction of this center in Syunik, the EBRD provided Armenia with a loan of 10 million euros and a grant of 2 million euros from the Special Shareholders Fund (SSF) to co-finance the project. The EBRD is one of the leading institutional investors in Armenia. During its operation in Armenia, it has invested 2.4 billion euros in 220 projects in areas ...
11/26/2024EBRD has invested record 2.4 billion euros in Armenia - EBRD Managing Director for Turkey and Caucasus (EXCLUSIVE)
... package to our local partner banks to be on-lent to the private sector to support their growth, competitiveness, making their practices more sustainable and environmentally friendly. These credit lines are offered to businesses along with incentive grants and technical advice provided by our donor partners, such as EU. We have also made significant progress in our own Refugee Response Plan. Number of upskilling and reskilling initiatives were designed and implemented for the refugees to facilitate ...
11/26/2024Armenia to grant Iranian company 2 billion dram loan for high-voltage power line completion
The Armenian government will issue a budget loan of 2.07 billion drams to the Iranian company ‘’Sunir’’, which is constructing a 400 kV power transmission line. YEREVAN, November 22. /ARKA/. The Armenian government will issue a budget loan of 2.07 billion drams to the Iranian company ‘’Sunir’’, which is constructing a 400 kV power transmission line. The total project cost is 106.8 million euros. The government maintains that providing funds through a budget loan will enable the swift completion...
11/22/2024Armenia's largest toy maker to invest $1.1M, granted customs duty exemption
At a meeting on Thursday, the Armenian government granted ‘’Mankan’’ LLC an exemption from customs duties on imported raw materials for the production of soft toys. YEREVAN, November 21. /ARKA/. At a meeting on Thursday, the Armenian government granted ‘’Mankan’’ LLC an exemption ...
11/21/2024''Energy Efficient Regions'' program implemented in Armenia with $1.7 million EFSD grant
... Asatryan, Director of the Armenian Renewable Energy and Energy Efficiency Fund, during an expert meeting. Since 2022, the Renewable Energy and Energy Efficiency Fund has been implementing the ‘’Energy Efficient Regions’’ program with a $1.7 million grant from the Eurasian Fund for Stabilization and Development (EFSD). As part of the program, a preliminary energy audit of over 150 public buildings was conducted, resulting in the selection of 13 buildings where energy efficiency measures are being ...
11/21/2024Armenia 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 "In the context of Armenia-EU relations, I ...
11/05/2024"Tormak" - a new corner of rural tourism in Lori (VIDEO)
... to a rising number of guests each year. The guest house "Tormak" is one of the beneficiaries of the ACBA Federation and the "Rural Tourism Development Program" of the German Nature Conservation Union (NABU). Thanks to the provided grant, it became possible to expand the guest house by adding a two-story room. “The idea of adding a second room came to us when we realized we were losing customers due to limited space. We decided that a second, separate room was necessary. This ...
11/01/2024Converse Bank and Kapitalbank sign cooperation agreement at Sibos 2024
... sectors. Kapitalbank is a driving force of transformation in the country and one of its market leaders. With this new collaboration, Kapitalbank becomes a strategic partner of Converse Bank, not only in Uzbekistan but across Central Asia," said,Grant Akopian, Chief Financial Officer, Deputy CEO at Converse Bank, expressing gratitude to all supporters. It is worth noting that Sibos 2024 is the annual meeting of the SWIFT international system, taking place from October 21-24 in Beijing.’-0- ...
10/22/2024EBRD, EU partner with ACBA LEASING to support Armenian firms
... in Armenia are to benefit from new funding from the European Bank for Reconstruction and Development (EBRD) and the European Union (EU), made available through ACBA LEASING. The EBRD loan of US$ 5 million (€4.6 million) is complemented by the EU with grant incentives of up to 12.5 per cent of each individual loan to MSMEs and free local and international consultancy services, both funded under the EU4Business initiative. This new credit line will be on-lent by ACBA LEASING to Armenian firms in ...
10/16/2024EU to provide Armenia with another 30 million euros to help Karabakh refugees and promote reforms
... participation in peacekeeping missions,’ Maragos noted. Earlier, on 5 April, during a meeting with the Armenian Prime Minister and the US Secretary of State, European Commission head Ursula von der Leyen announced that Armenia will receive €270 million in grant support under the Sustainability and Development Support Plan. ‘We hope that this will play an important role in developing business ties with the EU, diversifying Armenia's economy, ensuring sustainable economic development in the region and ...
10/12/2024Armenia, USAID expand cooperation agreement, doubling grant to $250 Million
Armenia's Deputy Prime Minister Mher Grigoryan and John Allelo, Director of USAID’s Armenia Mission, signed an amendment to the bilateral development cooperation grant agreement between Armenia and the United States YEREVAN, September 11. /ARKA/. Armenia's Deputy Prime Minister Mher Grigoryan and John Allelo, Director of USAID’s Armenia Mission, signed an amendment to the bilateral development cooperation ...
09/11/2024Armenian parliament approves first reading of bill expanding oversight on counterfeit medications
The Armenian National Assembly has passed the first reading of a bill aimed at granting regulatory bodies enhanced powers to oversee the circulation of counterfeit or non-sellable medications. YEREVAN, September 10. /ARKA/. The Armenian National Assembly has passed the first reading of a bill aimed at granting regulatory bodies ...
09/10/2024USAID to provide Armenia with additional $130 Million for governance reforms
... achievements, and addressing economic challenges. Initially, under a five-year cooperation agreement signed in 2022 between Armenia's Deputy Prime Minister Mher Grigoryan and USAID Director in Armenia John Allelo, Yerevan was set to receive a $120 million grant. This new allocation significantly increases the financial support for Armenia's governance and development efforts.
09/05/2024Armenian students win three bronze medals at International Olympiad on Astronomy and Astrophysics
... Yerevan’s Shaginian Physics and Mathematics Special School. Arsen Aghayan (12th grade), Gor Asratyan, and Emil Mushegyan (both 11th grade) earned bronze medals, while Narek Galstyan (11th grade) received an honorable mention. The Armenian team was led by Grant Topchyan from the Yerevan Institute of Physics and Karen Bagdasaryan from Yerevan State University. The Olympiad, which featured 232 students from 53 countries, consisted of four stages: theory, observation, data analysis, and a planetarium session....
08/27/2024Armenian-American company to invest $70 million in smelter
... Armenia's Ararat region, the Economy Ministry said. "About 300 new jobs will be created. The plant will specialise in the production of ferrous metals, including rebar and pipes," the ministry said. Earlier, the Armenian government decided to grant GTB Steel a loan of AMD 3.5 billion with an interest rate of 8% per annum and a repayment period of 4 years. A territory with a total area of 89,100 square metres was allocated for launching production in Ararat. The annual turnover of the enterprise ...
08/09/2024Exotic garden and guest house opened in Berdavan (video)
... fruits and berries, as well as various vegetables. The "Berdavan" guesthouse is one of the beneficiaries of the "Rural Tourism Development Program" by the Acba Federation and the German Nature Conservation Union (NABU). Thanks to a grant, Eric Ahverdyan was able to add two new rooms to the guest house. “We do not use pesticides and fertilizers in our agriculture, and human intervention is minimized. We use herbs to fertilize the soil, focusing on plants that produce natural nitrogen....
08/07/2024EIB Global signs first direct loan agreement with Armenian Acba bank
... finance for the private sector in the country. The Facility promotes long-term economic resilience by providing financing to local enterprises through Armenian banks. “We are committed to assuring banks that the loan conditions, bolstered by an EU grant for local currency support, will be highly attractive. As we finalize the grant under Neighbourhood Investment Platform (NIP), this initiative will complement the EIB's own risk operations, enhancing financial accessibility and support for local ...
07/31/2024Armenian government approves construction of first sanitary landfill
... million YEREVAN, July 25. /ARKA/. The Armenian government has approved the construction of the country's first sanitary landfill, with a total project cost of €11 million. The financing will include €5.5 million as a loan and €5.5 million as a grant. The landfill will be part of the "Solid Waste Management" program in Armenia. The project includes the completion of a new landfill in Hrazdan and the construction of waste processing stations in the communities of Martuni and Akunk. ...
07/25/2024Free and anonymous tests for HIV, hepatitis and syphilis available in a number of cities in Armenia
... Gavar (area adjacent to the former agricultural market, 11:00-17:00). The campaign, timed to coincide with the International Hepatitis Day, is held by the National Center for Infectious Diseases of the Ministry of Health within the framework of the grant programme ‘Prevention of HIV infection among labour migrants, improvement of research and consultations on HIV infection’.-0-.
07/25/2024EU Supports Armenia’s National Education Strategy with €20-25 Million Grant
The (EU) backs the implementation of Armenia’s national education strategy with grant assistance amounting to €20-25 million YEREVAN, July 19. /ARKA/. The European Union (EU) backs the implementation of Armenia’s national education strategy with grant assistance amounting to €20-25 million, Head of the EU Delegation to Armenia ...
07/19/2024Armenia to receive €26.2 million grant from Germany to develop biodiversity
Armenia will receive a €26.2 million grant from Germany to improve its biodiversity and sustainable local development, the country’s Environment Ministry reported on Monday YEREVAN, July 15. /ARKA/. Armenia will receive a €26.2 million grant from Germany to improve its biodiversity ...
07/15/2024Grant competition "Become a green guest house" announced
Acba Federation and the Armenian branch of the German Nature Conservation Union (NABU) are launching the 2nd grant competition "Become a Green Guest House" as part of the "Rural Tourism Development" programme. YEREVAN, 25 June. /ARKA/. Acba Federation and the Armenian branch of the German Nature Conservation Union (NABU) are launching the ...
06/25/2024Armenia joins Interreg Next project
... YEREVAN, June 20. /ARKA/. The Armenian government approved joining the Interreg Next project that brings together countries around the Black Sea on Thursday. The project has a total cost of €72.3 million. The parties to the agreement on financing the grant program are Armenia, Romania and the European Commission. Participation in the project will not lead to any financial obligations on the part of Armenia. It is stated that the purpose of the agreement is to promote long-term cross-border cooperation ...
06/20/2024Armenia values the contribution of the EFSD in promoting the stable functioning of the health care system
A delegation of the Eurasian Fund for Stabilisation and Development (EFSD) discussed with representatives of the Ministry of Health the implementation of socially important grant projects in the country. YEREVAN, 24 May. /ARKA/. A delegation of the Eurasian Fund for Stabilisation and Development (EFSD) discussed with representatives of the Ministry of Health the implementation of socially important grant projects in ...
05/24/2024Armenia receives $3 million grant from EFSD to expand capacity to fight infectious diseases
Armenia is working to expand its capacity to control and combat infectious diseases with a $3 million grant from the Eurasian Fund for Stabilization and Development (EFSD). YEREVAN, May 22. /ARKA/. Armenia is working to expand its capacity to control and combat infectious diseases with a $3 million grant from the Eurasian Fund for Stabilization and ...
05/22/2024Armenia to loan $100m from Eurasian Fund for Stabilization and Development
... renovation project for the existing highway connecting Yerevan with Yeraskh, Goris, and Megri near the Iranian border. Hovhannisyan appreciated the Fund’s participation in these projects. The two also spoke about the Fund’s various investment and grant projects, including the technical support program aimed at improving the quality of financial statements in the state sector. The parties emphasised the importance of the EFSD Strategy for 2022–2026, as well as the strategies of member countries,...
05/20/2024Minister: Armenia seeks to join major transportation projects from China to Europe
... construction of the Sisian-Kajaran section of the North-South Interstate Highway with an EBRD loan of 236 million euros, and the other is the establishment of a customs and logistics center in the Sisian region with an EBRD loan of 12 million euros and a grant of 2 million euros. Both of these projectsms are directly linked to the Crossroads of Peace project developed by the Armenian government to rehabilitate roads linking Armenia with Azerbaijan and Turkey. According to Hovhannisyan, the EBRD meeting ...
05/18/2024Byblos Bank Armenia celebrates Students' Day with scholarship recipients
... have a history of successful collaboration. One of the key projects implemented to celebrate the 15th anniversary of the Bank in 2023 was the memorandum of cooperation signed with the university. During the 2023-2024 academic year, 10 YSU students were granted nominal scholarships of AMD 1 million each, while five others received tuition reimbursement. May 16 marks Students and Youth Day, as well as the day of the foundation of YSU, which served as an opportunity for scholarship recipients to express ...
05/16/2024EBRD and EU boost funding for Armenian firms via Inecobank
... help them become more competitive, both domestically and internationally, and to reduce their carbon footprint. The EBRD is providing a US$ 7 million loan to Inecobank for on-lending to Armenian firms, while the EU is complementing this support with grant incentives of up to 15 per cent and free local and international consultancy services, both funded under the EU4Business initiative . Francis Malige, EBRD Managing Director for Financial Institutions, and Hayk Voskanyan, CEO of Inecobank, inked ...
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