IFC to boost investments in Armenian economy

IFC to boost investments in Armenian economy

PanARMENIAN.Net - On the sidelines of his working visit to Washington, Prime Minister Hovik Abrahamyan met with the International Finance Corporation CEO Jin-Yong Cai, governmental press service reported.

Emphasizing the important role of the World Bank Group member IFC in the development of Armenia’s economy, Abrahamyan stressed the need to keep up the pace of cooperation. Over $320 million of investment projects have been implemented Armenia for the last 15 years, mainly in the sectors of financial markets, manufacturing and mining industries.

“Our country has carried out serious institutional and regulatory reforms to improve the business and investment environment, with the IFC greatly contributing to the aforementioned,” the Prime Minister said. Abrahamyan stressed the inspection reform among key issues on the government’s policy agenda, pledging to honor commitments in this sector.

Hailing the IFC-Armenia cooperation, the IFC chief executive officer pointed to the effectiveness of the Armenian reforms and vowed to continue to assistance in implementing various projects in agribusiness, energy and other sectors, increase the investment portfolio in the real sector. During the meeting, the parties took the time to discuss other cooperation-related matters.

While in Washington, Prime Minister Abrahamyan met with ANCA representatives to discuss Armenia’s foreign and domestic policy agenda, as well as economic development.

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