Armenia secures $55 mln loan to boost development of tourismDecember 16, 2016 - 15:32 AMT PanARMENIAN.Net - Armenia’s National Assembly on Friday, December 16 ratified a $55 million loan agreement with the International Bank for Reconstruction and Development (IBRD), ARKA reports. Deputy Minister of Economic Development and Investments Tigran Khachatryan introduced the agreement to the lawmakers and said the IBRD will extend the loan for the development of tourism in Armenia’s provinces. He said the loan will be extended for 25 years with a 14.5-year grace period. According to him, these financial resources, which will be provided within five years, will be spent to improve infrastructural services and institutional opportunities of Armenia as well as to develop tourism in Ararat, Vayots Dzor, Lori and Kotayk provinces. The aim of the program is to attract tourists to Armenia. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Fly Arna license suspended, says Armenia official The license of the Armenian airline Fly Arna has been suspended for six months, an official says. President stresses Armenia’s clear position to achieve peace On the eve of the International Francophonie Day, the Armenian President met with French intellectuals. Pashinian meets border villagers on possible land transfer to Azerbaijan Prime Minister Nikol Pashinyan has met with concerned residents of two villages in Armenia’s northern Tavush province. Kazakh Foreign Minister arrives in Armenia Kazakh Foreign Minister Murat Nurtleu on Monday, March 18 arrived in Armenia for a two-day trip. |