Regional director: IFC continues expanding its activity in Armenia
ARKA, 26.08.2011International Finance Corporation continues widening and improving its activity in Armenia, IFC Regional Director for Caucasus Thomas Lubeck said Friday answering ARKA News Agency’s question.
He said that the corporation invested in Armenia only $5 million three years ago, in the following year it enlarged investment to $30 million and later doubled this amount to $70 million.
Lubeck refrained from pointing out the amount of investments planned for the next fiscal year saying that it would be possible to announce final figures at the end of the fiscal year.
He said that the IFC sees room for expanding cooperation with banks and prospects for financing small and mid-scale businesses and agriculture.
The corporation also finds it possible to develop cooperation in retail trade and partnership in mining industry, as Lubeck said.
He said that the improving investment environment in Armenia attracts more and more investments.
Armenia joined the International Finance Corporation in 1995. The IFC has invested $147 million under 28 programs since then.-0---
