 Yerevan to host EFSE Annual Meeting 2014 June 6, 2013 - 17:59 AMT PanARMENIAN.Net - The Annual Meeting of the European Fund for Southeast Europe (EFSE) kicked off in Sarajevo, the capital of Bosnia and Heržegovina, brining together more than 350 international experts from 29 countries. The EFSE aims to foster economic development and prosperity in Southeast Europe and the European Neighborhood Region of the European Union. The EFSE focuses on assisting local financial sectors in strengthening their ability to ensure adequate and sustainable financing for micro and small enterprises (MSEs) as well as for private households in the form of home improvement loans. In addition, the EFSE provides its Partner Lending Institutions (PLIs) with technical assistance and training services. As a PanARMENIAN.Net correspondent reports from Sarajevo , the 7th Annual Meeting, held under the motto Strong Partners - Strong Impact this year, was jointly inaugurated Thursday, June 6, by Bakir Izetbegovič, Member of the Presidency of Bosnia and Heržegovina, Kemal Kozarič, Governor of the Central Bank of of Bosnia and Heržegovina, Peter Sorensen, Ambassador and Head of the European Union Delegation to Bosnia and Heržegovina and European Union Special Representative, and Christiana Markert, Deputy Head of Mission of the German Embassy to Bosnia and Heržegovina. Addressing the attendees, Chairperson of the EFSE Board of Directors, Mrs. Monika Beck noted that at about 115 millions euros, Bosnia and Heržegovina accounts for the second largest share of the EFSE investment portfolio. Meanwhile, Board Member of the Central Bank of Armenia, Mr. Armenak Darbinyan announced that the next EFSE Annual Meeting will be held in Yerevan. With more than 350,000 sub-loans totaling 2,2 billion euros since 2005, the EFSE made a major impact in terms of securing and generating employment throughout the target region, creating 350,000 jobs. The outstanding sub-loan portfolio amounted to 638 euros in 2012. Registering no realized capital losses last year, the EFSE was able to mobilize 115 million euros from private commercial investors, with private capital accounting for 65% of overall capital commitments.   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 |  Latest news Court in Azerbaijan extends former Karabakh leader’s arrest by 5 months  The Binagadi District Court in Azerbaijan has granted the prosecutor’s petition to extend the arrest of Arkady Ghukasyan.Ucom General Director joins High-Tech Development Panel Discussion The discussion was titled "The Role of International Corporations and Investors as Catalysts for Development of High-Tech Ecosystem."U.S. still believes “peace is possible” between Armenia, Azerbaijan The United States continues to believe that peace is possible between Armenia and Azerbaijan, Vedant Patel says.Dozens detained as antigovernment protest continue in Armenia At least 63 people demanding Prime Minister Nikol Pashinyan’s resignation were detained on May 14 as they blocked streets in Yerevan. |
