U.S. to pump $150mln into Mideast private equity fundSeptember 10, 2012 - 13:59 AMT PanARMENIAN.Net - A U.S. government financing agency says it plans to pump $150 million into a Mideast private equity fund designed to promote the growth of small and medium-sized businesses in the region, The Associated Press reports. A division of Dubai-based Abraaj Capital, the Middle East's largest private equity firm, will manage the financing provided by the U.S. government's Overseas Private Investment Corporation. OPIC and Abraaj said in a statement late Sunday that the Abraaj-managed Riyada Enterprise Development Growth Capital Fund aims to help businesses across the Middle East and North Africa, with Egypt as one of the main targets. It is expected to ultimately have a capitalization of $400 million. OPIC uses private capital to promote development and helps businesses break into emerging markets. Top stories Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot". The earthquake caused a temporary blackout, damaged many buildings and closed a number of rural roads. Partner news | Mirzoyan says meeting with Bayramov was “constructive” At the moment, Ararat Mirzoyan said, there is no basis for additional comments. OSCE vows support for Armenia “in all three directions of security” Achieving stable peace between Armenia and Azerbaijan remains a priority of the OSCE, said Ian Borg. 151 detained as civil disobedience campaigns continue in Yerevan Citizens have been blocking streets in the Armenian capital, demanding Nikol Pashinyan’s resignation. France welcomes Armenia-Azerbaijan meeting in Almaty France has welcomed the new round of negotiations between the foreign ministers of Armenia and Azerbaijan. |