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Armenian IT field to receive $24 million loans

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  • Armenian IT field to receive $24 million loans

    Armenian IT field to receive $24 million loans

    news.am
    July 01, 2012 | 00:12

    YEREVAN. - The World Bank (WB) will grant $24 million loans to use it
    for the Armenian IT field, Armenian Minister of Economy Tigran Davtyan
    said at a meeting in Armenian City of Aghveran. The loan has already
    been confirmed by the WB.

    According to the Minister, it is the second loan for the IT field. The
    first loan in the amount of $5 million has mainly served for the
    establishment of the Enterprise Incubator Foundation.

    Davtyan also presented other sources of financing, except for loans.
    The field received $80 million annually from exhibitions, information
    materials, conference organization and participation.

    Besides, over $170 million is granted to Gyumri city techno-park.
    Moreover, tourism and IT get direct investments from the state
    budget.USAID also makes investments.

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