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IFC Granted $70 Million To Armenia

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  • IFC Granted $70 Million To Armenia

    IFC GRANTED $70 MILLION TO ARMENIA

    news.am
    Aug 1, 2011
    Armenia

    YEREVAN. - International Finance Corporation (IFC) granted $70
    million to Armenia in the last financial year (July 1st, 2010 -
    June 30th, 2011), IFC reports. IFC is a structure of the World Bank,
    which is responsible for investments in the private sector. IFC made
    investments in 11 projects for the last year. Currently IFC investment
    Armenian portfolio is $102 million in the form of loans and capital
    investments in the financial system and economy.

    The organization considerably increased loans for small and
    medium businesses, granting the banks with credit lines including
    agro-industry enterprises.

    Armenia is a member of IFC since 1995. So far IFC granted $147
    million for 28 projects in Armenia. Besides the investments, IFC
    provides consultations for the private sector and the government in
    the areas of financial sector, stabile energy, and improvement of
    the investment climate.

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