Panarmenian Bank opens in YerevanSeptember 7, 2011 - 14:29 AMT PanARMENIAN.Net - On September 7, Armenian President Serzh Sargsyan attended the opening ceremony of Panarmenian Bank. As the Board Director and bank CEO Vahram Nersisyants stated, the Bank’s activity will be aimed at attraction of foreign investments and further financing of competitive manufacturers in Armenia. “The main goal of Panarmenian Bank is promotion of economic growth through boosting export of products and services,” Nersisyants said. Panarmenian Bank won’t be competing with the country’s commercial banks, taking no deposits and offering no credits. However, the Bank plans cooperation with commercial banks, who may further offer financing packages to local enterprises. The activity the Bank will be regulated by the Central Bank of Armenia in accordance with relevant legislation, presidential press service reported. 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 | U.S. warns Georgia not to side with Moscow against the west Georgia has been warned by the U.S. not to become an adversary of the west by falling back in line with Moscow. Power of One Dram sums up two-year program with Teach for Armenia Idram Junior also joined the companies during the visit, bringing with it a fascinating intellectual game for children Moscow slams EU mission in Armenia for “provocative activity” The EU mission is doing more and more against Armenia’s neighbors Russia, Azerbaijan and Iran, Mikhail Galuzin said. Yerevan Mayor to travel to Paris on May 15-19 The official delegation headed by Yerevan Mayor Tigran Avinyan will travel to Paris from May 15 to 19. |