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IDeA Foundation pledges to attract $1.3 bn investments into Armenia

IDeA Foundation pledges to attract $1.3 bn investments into Armenia

PanARMENIAN.Net - IDeA Foundation will attract investments worth some $1.3 billion into Armenia throughout the next 15 years, co-founder Ruben Vardanyan said at a meeting with prime minister Karen Karapetyan on Tuesday, April 25.

According to Vardanyan, IDeA and its partners and donors have since 2007 invested more than $550 million in various projects in Armenia and are planning to attract more resources which will leave a positive impact on the country's social and economic development.

At the meeting, Vardanyan briefed the prime minister on a host of investment projects aimed at the development of information technologies, education, tourism, health, agriculture, mining, telecommunications, infrastructure, as well as the preservation of cultural heritage preservation, strengthening of the financial system, and the development of Artsakh (Nagorno Karabakh).

Karapetyan, in turn, instructed the relevant bodies to cooperate with IDeA to better coordinate the activities.

IDeA Foundation (Initiatives for Development of Armenia) implements strategic charitable initiatives for Armenia, Artsakh and Armenian Diaspora. The projects are aimed at preservation, rebirth and international recognition of national, spiritual and historical heritage, development of education, cultural enrichment and enhancement of competitiveness of the nation.

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