  Armenia secures $55 mln loan to boost development of tourism December 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 |  Latest news Viva sees growing demand for cloud services  In recent years, medical institutions are starting to make use of Viva’s cloud servicesTurkey replacing term "Central Asia" with "Turkestan" in textbooks The Turkish Ministry of Education is replacing the term "Central Asia" with "Turkestan" in textbooks.Armenian, German presidents meet in Berlin Armenian and German Presidents Vahagn Khachaturyan and Frank-Walter Steinmeier met in Berlin.Armenia assumes presidency of Mediterranean Network of Regulatory Authorities The Commission on Television and Radio of Armenia said it expects productive cooperation in various formats. |
