ArmInfo. The Eurasian  Development Bank (EDB) has revised its forecast for Armenia's GDP  growth in 2024 from the previous 7.5% to a new 6%, citing a reduced  contribution from the precious metals processing and export sector in  generating added value.

ArmInfo.

ArmInfo.

ArmInfo.Armenia will  attract a 50 million euro loan from the OPEC Fund for International  Development as part of the Second Green, Inclusive and Sustainable  and Development Policy Program. The agreement is currently being  discussed for ratification at an extraordinary session of the  National Assembly of the Republic of Armenia on December 5.   According to RA Finance Minister Vahe Hovhannisyan, this is a budget  assistance program that also involves the World Bank. The loan funds  will be used to finance the country's state budget deficit for 2024,  which amounts AMD 482.9 billion. To address this issue, it is planned  to secure credit resources in the amount of $450 million. The OPEC  fund loan is provided for a period of 18 years, with a grace period  of 5 years for payments, and an annual interest rate of a floating  6-month EURIBOR + 1.56%, which as of December 2 is 4.235%.

ArmInfo.

ArmInfo. The Eurasian  Development Bank (EDB) plans to invest $200-250 million in Armenia in  2025-2026. This was stated by Yaroslav Mandron, Deputy Chairman of  the EDB Management Board, on December 5, while summarizing the Bank's  activities for this year.  "In 2025, we will make a decision on the   Electric Networks of Armenia (ENA). The bank primarily focuses on  Armenia's energy sector, agriculture, and mining industry. The  potential for further collaboration with the Yeremyan Group of  Companies is also being considered," the EDB Deputy Chairman  clarified. Speaking about the work in the current year, he emphasized  that in 2024-2025, projects were implemented in the fields of  metallurgy, trade, agriculture and the food industry. "This year, we  are implementing three major projects. Thus, we have allocated $100  million for the modernization and expansion of production at the  Zangezur Copper and Molybdenum Plant. Additionally, $39 million will  be used for providing bank guarantees to the Ozon Group of Companies,  and another $6 million will be allocated for the construction and  modernization of the Yeremyan dairy farms," Mandron said. 

ArmInfo. The Head of the  Armenian office of the German Society for International Cooperation  (GIZ), Madeleine Rauschenberger, presented details of the planned  program "Sustainable Water and Wastewater Management for Flexible  Development of Armenian Communities" at a meeting with the Deputy  Minister of Territorial Administration and Infrastructure of the  Republic of Armenia Vache Terteryan.  As reported by the press  service of the Ministry of Territorial Administration, the program is  scheduled to last three years and will start at the end of 2025.

ArmInfo. In Armenia, the  economic growth rate for January- October 2024 has decreased to 8.1%  per annum (down from 9.2% in the same period in 2023). However,  unlike the previous year, the industrial sector has become a key  diver of growth. According to the final data from the RA Statistical  Committee, this is accompanied by ongoing high growth rates in both  exports and imports.

ArmInfo. On December 5, RA  Deputy Prime Minister Mher Grigoryan received the newly appointed  Ambassador Extraordinary and Plenipotentiary of the People's  Democratic Republic of Algeria to the Republic of Armenia Boumediene  Guennad.

ArmInfo. The Eurasian  Development Bank (EDB) has not yet received a proposal to finance the  construction of the Mastara reservoir. This statement was made by  Yaroslav Mandron, the Deputy Chairman of the EDB Management Board, on  December 5, in response to a question from ArmInfo.

ArmInfo.

ArmInfo. Armenia has withdrawn its application for financing the construction of the  Amulsar gold mine project. Nikolay Podguzov, Chairman of the Board of  the Eurasian Development Bank (EDB), announced this at the final  press conference on December 5 in response to a question about the  current stage of the Bank's participation in the project. 

ArmInfo. On December 5, the  Government of Armenia approved the proposal to sign a temporary trade  agreement between the Eurasian Economic Union (EAEU) and its member  states, on the one hand, and Mongolia, on the other.

ArmInfo. "Armenian Airlines"  announces seasonal discounts.

ArmInfo.  The public  organization "Compass" is launching a series of information events in  Armenia to raise awareness of the residents of the Tavush region  about sustainable energy technologies and popularize their use. This  is stated in the message of the Ministry of Territorial  Administration and Infrastructure of the Republic of Armenia.

ArmInfo.  The Central Depository of Kazakhstan (CDA) has become a member of the Central Depository of Armenia (CDA) system, opening a personal account (depot account) of a nominal holder. This membership is important for deepening the interaction between the capital markets of the two countries and expanding access  to the securities markets. This is noted in a joint statement of the Armenian Stock Exchange and the Central Depository of Armenia.

ArmInfo. Reducing budget expenditures on the economic development of Armenia will further lead to a reduction in budgetary capacity with all possible negative  consequences. This is the conclusion reached by experts from the Luys  Foundation, who analyzed the advantages and disadvantages of the  country's draft state budget for 2025.

ArmInfo.

ArmInfo. This year, IDBank has joined the 27th Telethon of the Hayastan All Armenian Fund, contributing 10,000,000 AMD. All the initiatives outlined by the Telethon are vital and urgent for our country. These programs align closely with IDBank's corporate social responsibility policy, reflecting the bank's commitment to the community and national development.

ArmInfo.