Armenia secures $55 mln loan to boost development of tourismDecember 16, 2016 - 15:32 AMT PanARMENIAN.Net - Armenia’s National Assembly on Friday, December 16 ratified a $55 million loan agreement with the International Bank for Reconstruction and Development (IBRD), ARKA reports. Deputy Minister of Economic Development and Investments Tigran Khachatryan introduced the agreement to the lawmakers and said the IBRD will extend the loan for the development of tourism in Armenia’s provinces. He said the loan will be extended for 25 years with a 14.5-year grace period. According to him, these financial resources, which will be provided within five years, will be spent to improve infrastructural services and institutional opportunities of Armenia as well as to develop tourism in Ararat, Vayots Dzor, Lori and Kotayk provinces. The aim of the program is to attract tourists to Armenia. 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 | Government reveals details from Pashinyan’s meeting in border village Prime Minister Nikol Pashinyan has met with a group of residents of a border village in Armenia’s northern Tavush province Narek Manasyan wins European Boxing Championships silver for Armenia Armenia’s Narek Manasyan (92kg) won Armenia’s second silver medal at the European Boxing Championships 2024 on April 28. Blinken urges Azerbaijan to continue negotiations with Armenia Secretary of State Antony J. Blinken has urged Azerbaijani President Ilham Aliyev to continue negotiations with Armenia. Pashinyan, Blinken talk Armenia-U.S. ties over the phone Prime Minister Nikol Pashinyan had a phone conversation with US Secretary of State Antony Blinken on April 28, Pashinyan’s office reports. |