Hirair and Anna Hovnanian Foundation Commits to Major Investment with HIKEArmenia
Earlier this year the Hirair and Anna Hovnanian Foundation approached ONEArmenia about accelerating investment into HIKEArmenia so as to scale the program more quickly and to enhance its impact. In February 2017, the two organizations signed an agreement which ultimately establishes full Hovnanian Foundation support for the creation of HIKEArmenia as a separate operating foundation in Armenia with the goal of developing the hiking infrastructure and resources throughout Armenia up to world-class...
E5P fund providing €2 million to landfill in Armenia
Supporting Armenia’s effort to become greener, the E5P fund is co-financing the construction of a new landfill for solid waste for the Gegharkunik and Kotayk regions with a €2 million grant.
The EBRD, which manages the Eastern Europe Energy Efficiency and Environment Partnership fund (E5P), and Armenia’s Ministry of Finance signed the relevant agreement today. The grant will support the construction of a new landfill with modern solid-waste management processes, covering the co...
Transfers to Armenia Increased by 44 Million Dollars
The total volume of transfers to Armenia has increased by 44.554 million USD over the past one year. The volume of transfers in January-April 2017 was 422.246 million dollars against 377.692 million USD in January-April 2016, Armenpress informed, referring to the Central Bank.
In the past four months of this year the volume of transfers from Armenia was 269.782 million dollars against 246.432 million USD in the same period last year. The growth in January-April was 23.050 million dollars.
IMF Approves $21.6 m loan disbursement to Armenia
The International Monetary Fund (IMF)’s executive board authorized the disbursement of a fifth and final $21.6 million loan payment to Armenia.
"The Executive Board of the International Monetary Fund (IMF) completed today the fifth and final review of Armenia’s economic performance under a three-year arrangement under the Extended Fund Facility (EFF). The completion of the review allows the authorities to draw the equivalent of SDR 15.69 million," an official press release stated, a...
Chain's Complete: Last Step Will Be Taken Tomorrow
The National Assembly will discuss the program of the government. The economists have underlined several important things in it. First, it lacks numbers and forecasts, which means that the government avoid responsibility.
It states a 5% economic growth which is possible provided the inflation, experts say. In other words, this is a growth which is possible on its own.
In fact there is no clarity in any sector, including investments. Economists say the program does not clarify the “added ...
Miller Has Arrived After American 8 Billion Dollars
Miller, the president of Gazprom, is visiting Armenia. On the other hand, it is a question whether he is a guest or he has come home, considering the notorious agreement with Gazprom. Why has Miller come to Armenia? He has met with his Karen Karapetyan and Serzh Sargsyan. Issues relating to Gazprom’s activities, including both gas supply and social responsibility were discussed. For example, Serzh Sargsyan announced that Gazprom has a big role in the dynamic development of the Armenian-Rus...
Women earn less and face higher economic constraints in Armenia - report
Over 40% of the economically active women in Armenia are engaged in agricultural industries as opposed to men whose involvement in the sector is 30%, a recent report by the UN Food and Agriculture Organization (FAO) reveals.
The document, entitled Gender, Agriculture and Rural Development in Armenia, also highlights a higher poverty rate among the female population in comparison to males (54.7% and 45.3%, respectively), attributing the figures to women’s limited economic opportunities.
Bank cyber-attack averted in Armenia
The Central Bank of Armenia (CBA), in collaboration with information security experts from trading banks, has averted a targeted cyber-attack against the banking system.
The threat was possible to neutralize thanks to a joint platform helping to rapidly detect and react to any malware, Harutyun Berberyan, the head of the CBA Public Relations Service, told Tert.am.
“The Central Bank of Armenia periodically undertakes comprehensive measures towards increasing the information security in th...
Prime minister demands ‘breakthrough’ reforms in water management sector
Armenian prime minister spoke today about the need of carrying out ‘breakthrough’ reforms in the water management field.
Addressing a regular Cabinet meeting Karapetyan told the Water Management Committee to ensure equal conditions for all water users, taking into account the specifics of soil in various regions, thus eliminating the accumulation of receivables for payments for used irrigation water.
He told the head of the agency Arsen Harutyunyan to organize the whole process of ...
Armenia’s trade with EEU member countries surged by 15 percent
Armenia’s turnover with the Eurasian Economic Union’s (EEU) member countries grew by more than 15%, and the export of the Armenian goods to the Eurasian market grew by 65%, president Serzh Sargsyan said at a meeting of heads of state, members of the Eurasian Economic Union, in Bishkek, Kyrgyzstan, Sargsyan’s press office reported.
President Sargsyan said, “The shaping of our common economic area and its development for the second year in a row is taking place in a comple...
World oil prices are down
The online transaction data shows that the world oil prices have declined at the London and New York stock exchanges, Gazeta reported.
Accordingly, the May Futures’ Light Sweet Crude Oil (WTI) has dropped by 0.17% and made $52.32 per barrel at the New York Mercantile Exchange (NYMEX).
And the June Futures’ Brent Crude Oil has decreased by 0.18% and reached $54.79 per barrel, at the London ICE Futures stock exchange.
Dollar continues to fall in Armenia
The American dollar’s (USD) exchange rate against the Armenian dram (AMD) comprised AMD 485.47 /$1 in Armenia on Wednesday; this is down by AMD 0.40 from Tuesday, informed the press service of the Central Bank of Armenia.
The exchange rate for one euro was AMD 520.52 (up by AMD 2.83), that of one British pound was AMD 623 (up by AMD 12.89), and the rate of one Russian ruble was AMD 8.66 (unchanged) in the country.
In addition, one gram of silver, gold and platinum amounted to AMD 287.5, ...
Armenia’s total state debt increased by $35 million in one month
Armenia’s total state debt stood at $5.996.2 billion in late March 2017, having increased by 0.59% or $35 million from the previous month, according to numbers, released by the ministry of finance.
According to official data, the government’s debt stood at $5.478.3 billion (an increase of $28.3 million). The external debt increased by $7.9 million to $4.309.6 billion, while the domestic debt increased by $20.4 million to $1.166.6 million.
The Central Bank's debt at the end of March...
Coca-Cola Hellenic Armenia and USAID partner to address water stewardship in Ara...
On July 20, the United States Agency for International Development (USAID), Coca-Cola Hellenic Bottling Company Armenia (Coca-Cola HBC Armenia) and the Ministry of Nature Protection of the Republic of Armenia signed a Memorandum of Understanding, aimed at improving water stewardship across Armenia and particularly contributing to conservation, effective use and management of water resources in Ararat valley.
This partnership will support some of the activities implemented under the USAID’...