Armenia to put money into investment fund supporting SMEsJuly 8, 2021 - 14:28 AMT PanARMENIAN.Net - The Armenian government will put money into an investment fund supporting small and medium-sized businesses, according to a resolution adopted by the government on Thursday, July 8. Deputy Minister of Economy Avag Avanesyan noted that $31 million have already been invested into the fund by the European Bank for Reconstruction and Development, the Hovnanian Foundation, Amber Capital (owned by French businessman Joseph Oughourlian), and Amundi Acba Asset Management Fund. The Netherlands' FMO, he added, has pledged another $7 million, but on condition that the total capital of the fund reaches $45 million. "Therefore, we will invest $7 million, then our partners from the Netherlands will provide another $7 million, and the capital will reach $45 million," Avanesyan said. He revealed that the specialists of the investment fund had earlier studied local enterprises seeking investments. According to preliminary calculations, one dollar invested in these businesses will yield a return of $2.9-3. $3 million will be allocated directly from the budget, while the remaining $4 million will come from the Armenian National Interests Fund (ANIF), a state-owned enterprise. 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 | Czech-Armenian military cooperation discussed in Yerevan A delegation led by the Director General for the Industrial Cooperation Division of the Ministry of Defence of the Czech Republic visited Armenia. U.S. welcomes efforts to define Armenia-Azerbaijan border The United States welcomes efforts to define the border between Armenia and Azerbaijan, says Vedant Patel. Biden honors resilience of Armenian people on April 24 U.S. President Joe Biden has issued a statement on the 109th anniversary of the Armenian Genocide. Ex-Karabakh leader moved to solitary confinement cell in Baku, his son says David Vardanyan is the son of former Karabakh leader Ruben Vardanyan who who is currently imprisoned in Azerbaijan. |