Panarmenian Bank opens in YerevanSeptember 7, 2011 - 14:29 AMT PanARMENIAN.Net - On September 7, Armenian President Serzh Sargsyan attended the opening ceremony of Panarmenian Bank. As the Board Director and bank CEO Vahram Nersisyants stated, the Bank’s activity will be aimed at attraction of foreign investments and further financing of competitive manufacturers in Armenia. “The main goal of Panarmenian Bank is promotion of economic growth through boosting export of products and services,” Nersisyants said. Panarmenian Bank won’t be competing with the country’s commercial banks, taking no deposits and offering no credits. However, the Bank plans cooperation with commercial banks, who may further offer financing packages to local enterprises. The activity the Bank will be regulated by the Central Bank of Armenia in accordance with relevant legislation, presidential press service reported. 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 | European Parliament to discuss repression in Azerbaijan The European Parliament will discuss repression of civil society in Azerbaijan on April 24 PACE wants concessions from Azerbaijan to accept Baku back A PACE co-rapporteur said that Azerbaijani authorities must make certain concessions so that the country can return to PACE. Cyprus parliament honors Armenian genocide victims Acting House President Zacharias Koulias noted that April 24 marks the “black anniversary” of the Armenian genocide. Armenia PM, France envoy discuss regional matters Issues related to the consistent development of Armenia-France cooperation were discussed. |