IFC GRANTED $70 MILLION TO ARMENIA
Aug 1, 2011
YEREVAN. – International Finance Corporation (IFC) granted $70
million to Armenia in the last financial year (July 1st, 2010 –
June 30th, 2011), IFC reports. IFC is a structure of the World Bank,
which is responsible for investments in the private sector. IFC made
investments in 11 projects for the last year. Currently IFC investment
Armenian portfolio is $102 million in the form of loans and capital
investments in the financial system and economy.
The organization considerably increased loans for small and
medium businesses, granting the banks with credit lines including
Armenia is a member of IFC since 1995. So far IFC granted $147
million for 28 projects in Armenia. Besides the investments, IFC
provides consultations for the private sector and the government in
the areas of financial sector, stabile energy, and improvement of
the investment climate.