ArmInfo. The International Finance Corporation (IFC) is anchoring a landmark $75 million  sustainability-linked bond issuance by Team Telecom Armenia with a $13.5 million participation to boost digital infrastructure in Armenia, as stated  in IFC press release.  Armenia.

ArmInfo. The Minister of Economy of Armenia, Gevorg Papoyan, called on Greek businesses to make use of the benefits offered by the Armenian government to foreign investors. He made this statement on December 17 on the sidelines of the signing of a memorandum during the sixth meeting of  the Intergovernmental Commission on Economic, Industrial and  Scientific-Technical Cooperation between Armenia and Greece.

ArmInfo. Ambassador of Canada to Armenia, Andrew Turner, met with members of the International Business Relations Council.  As reported by the Press Service of the Embassy of Canada in  Armenia, the purpose of the  meeting was to discuss the expansion of trade ties between Canada and  Armenia.  According to the Statistical Committee of the Republic of  Armenia, foreign trade turnover between Armenia and Canada in  January-October 2024 amounted to $26.9 million with an annual decline  of 65.5%. Specifically,  exports decreased by 13.3% to $1.7 million,  and imports by 66.8% to $25.5 million.

ArmInfo. Greece is interested in strengthening its presence in Armenia and making investments. Deputy Foreign Minister of Greece Konstantinos Fragkogiannis  stated this on December 17 at the sixth meeting of the intergovernmental commission on economic, industrial and scientific-technical  cooperation between Armenia and Greece. 

ArmInfo.  According to the results of the third quarter, Russia ranks first in the trade  turnover of Belarus (52.7%) and Armenia (41.1%). This was stated by  the Chairman of the Russian Government Mikhail Mishustin in an  interview with Rossiyskaya Gazeta.

ArmInfo. The companies  "South Caucasus Railway" and "Georgian Railway" summed up the results of cooperation for 2024 and outlined plans for the next year, 2025. The corresponding meeting with the participation of delegations and the heads of the two companies, Alexey Melnikov and David Peradze,  took place on December 16 in Tbilisi, the press service of "SCR"  reported. 

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ArmInfo. We are pleased to announce that Converse Bank has made a significant stride in the realm of trade finance by becoming a confirming bank under the EBRD TFP.

ArmInfo.Deputy Foreign Minister of Armenia Paruyr Hovhannis received a delegation led by Kostas Fragkogiannis, the Deputy Foreign Minister of Greece and Co-Chair of the Intergovernmental Commission on Economic, Industrial and Scientific-Technical Cooperation between Armenia and Greece. 

ArmInfo. The current state of Armenia's nuclear energy sector is similar to a well-known monologue performed by People's Artist of Russia Roman Kartsev:  yesterday there were big crayfish, but for five rubles, today there  are smaller crayfish, but for three rubles.  After extensive  discussions, the Armenian government has reached a decision on the  capacity and type of the new nuclear power plant. According to RA  Prime Minister Nikol Pashinyan, a political decision has been made to  construct a nuclear power plant with a small modular reactor (SMR).  RA Minister of Territorial Administration and Infrastructure Gnel  Sanosyan commented on the Armenian Cabinet's statement, noting that  the plant will have a capacity of 400-600 MW. Based on his  statements, it can be inferred that Armenia intends to build two  power units, as SMR nuclear power plants typically have units with  capacities of up to 300 MW. Meanwhile, experts in the field emphasize  the importance of a robust nuclear energy sector for Armenia, as we  approach the fifth world industrial revolution.

ArmInfo. Largely thanks to  the Eurasian Economic Union, Armenia has managed to ensure  significant GDP growth rates. This was stated by Vagharshak Hakobyan, the head of the Committee, during a meeting of the Standing  Committee on Regional and Eurasian Integration at the National  Assembly on December 16.  According to him, January 2025 will mark  the 10 anniversary since the establishment of the EAEU.  The  republic's involvement in the EAEU has facilitated the progress seen  today within complex global processes. In particular, it has led to  growth in the high-tech sector, largely due to an influx of  relocators who provided high-quality and quantitative services.  However, as Hakobyan emphasized, many of them have recently left the  republic. The deputy also noted that Yerevan often serves as an  important link in the Union system, as evidenced by the recently  signed agreement on a free trade zone between the EAEU and Iran.  

ArmInfo. Deputy Minister of  Economy of Armenia Edgar Zakaryan received Mohsen Talaei Minaei, the  Executive Director of the Gold and Jewelry Export Consortium of  Isfahan, Iran.  As reported by the press service of the Ministry of   Economy, the parties discussed the possibilities of bilateral  cooperation in the jewelry industry. They also explored opportunities  for organizing joint production and exporting of finished products to  international markets.  During the meeting, Edgar Zakaryan emphasized  the willingness of the Ministry to develop and implement joint  programs.  It should be noted that according to the Statistical  Committee of the Republic of Armenia, the volume of jewelry  production in Armenia decreased by 28.1% in 10 months, totaling over  46 billion AMD.

ArmInfo. Regional economic integration can yield additional economic benefits for the countries  of the region if these processes mature and develop on the basis of  mutual coordination of the national interests of all participants,  and not under the sole leadership of one.  This was stated by the  deputy of the opposition faction of the National Assembly ,  economist Tadevos Avetisyan.

ArmInfo. To meet the  minimum demand in the slaughterhouse sector in Armenia, at least 100  slaughterhouses are needed. This was stated in an interview by the Minister of Economy Gevorg Papoyan. 

ArmInfo. The change in the  sales tax system is intended to reduce the shadow of big business,  including the return of what was stolen and plundered. This statement  was made by Prime Minister of Armenia Nikol Pashinyan on his Facebook  account. 

ArmInfo. Universal health insurance will be introduced in Armenia, as assured by the Minister of Health Anahit Avanesyan during a meeting with journalists.

ArmInfo.The <Upper Lars> checkpoint is  open for light vehicles, Vahan Hakobyan, customs attache of the  Armenian Embassy in Russia, told ArmInfo. <Traffic has been restored  for cars and passenger transport on the Gudauri-Kobi section of the  Mtskheta-Stepantsminda-Lars international highway. This section of  the road will have non-stop traffic and only through avalanche-proof  tunnels.  He also noted that at the moment, the road is closed only  for trucks. The Georgian Military Highway is currently the only land  route linking Armenia with Russia (through Georgia).

ArmInfo. December 9 to 13,  2024, in Armenia's interbank foreign exchange market daily USD  transactions and one RUB transaction were effected, with no EUR  transactions effected for a month and a half. USD transactions showed  a growth from 53% to a 10-fold growth, with RUB transactions showing  a 87,3% decline against an 2.6% growth.  As a result, dollar  transactions began to dominate again, the total amount of USD  transactions exceeded the total amount of RUB transactions 58-fold.

ArmInfo.As a result of a new partnership between Acba Bank and the International Finance Corporation (IFC),  ACBA will allocate $50 million to finance and develop micro, small and medium enterprises (MSMEs) in Armenia, as noted in a statement by Acba Bank.