EBRD to invest US$2.2m in Armenian digital cable TV service providerOctober 15, 2011 - 15:46 AMT PanARMENIAN.Net - The EBRD is supporting the development of the telecoms, information and media sector in Armenia with a US$ 2.2 million quasi-equity investment in Interactive TV LLC, a digital cable TV service provider, and one of Yerevan’s media delivery companies. Interactive TV was founded in 2006 and was Yerevan’s first cable television supplier with a substantial share of the capital’s digital cable television market. EBRD financing will enable the company to build on its existing footprint and diversify its products by expanding into more districts of the city and by offering broadband internet services. “We are delighted to have a reputable organization such as the EBRD supporting us in our future development plans. We hope to grow into one of the leading multi-service telecoms, informatics and media companies in Armenia, while continuing to serve our clients,” said Avetik Kalantaryan, the CEO of Interactive TV. The EBRD is one of the largest investors in Armenia. Since the start of its operations in the country in 1992, the EBRD has invested more than US$ 600 million in 101 projects in the financial, corporate, energy and infrastructure sectors, with 92 per cent of projects representing investment in the private sector. 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. |