Bond issuance in local currency to support on-lending to small businesses
FINCA Impact Finance
Jan 03, 2019, 09:00 ET
YEREVAN, Armenia and WASHINGTON, Jan. 3, 2019 /PRNewswire/ — FINCA Armenia announced the issuance of AMD 1.4 billion (USD 2.8 million) in nominal, non-documentary coupon bonds, further diversifying its funding base. Each three-year coupon bond has a nominal value of AMD 10,000 and a semi-annual coupon rate of 10.5%. The issuance is the first of three tranches the institution plans to issue over the next year, with a total value of USD 10 million.
The new issuance was listed on the NASDAQ OMX Armenia secondary list of bonds (Bbond). As in previous issuances by FINCA Armenia on the NASDAQ OMX, the bond offering was oversubscribed, with the purchasers being local banks, pension funds and individual investors. The funding will support on-lending to small businesses throughout the country.
FINCA Armenia, one of 20 banks and microfinance institutions that make up the FINCA Impact Finance (FIF) network, has been operating since 1999 and is one of the country’s leading microfinance institutions. It serves more than 35,000 clients through both traditional and branchless banking channels, including online banking. The issuance is the third by the FIF subsidiary in the past two years, following the issuance of tranches worth USD 4 million and AMD 1.5 billion, respectively, in 2017.
“The success of this bond offering is a testament to FINCA Impact Finance having earned the confidence of local investors in the markets where we operate,” said Roman Hingorani, FIF CFO. “We are shifting from a heavy reliance on international borrowing to more local funding sources. This helps mitigate foreign exchange and geographic risks and strengthens our relationships with local investors.”
FIF’s bond offerings are attracting growing interest from the investment community, including issuances by subsidiaries in Pakistan and Nicaragua. FIF, which provides responsible finance to low-income people in 20 countries, is diversifying its sources of funding and using the proceeds from bond issuances to broaden its offering of financial products and services.
About FINCA Impact Finance
FINCA Impact Finance is a network of 20 microfinance institutions and banks that provides socially responsible financial services to enable low-income individuals and communities to invest in their futures. For more information, visit www.FINCAImpact.com and follow on Twitter @Fincaimpact.
SOURCE FINCA Impact Finance
Azerbaijani press: Seyidov: 2019 to be more successful for Azerbaijan
Baku, Azerbaijan, Jan. 3
By Elchin Mehdiyev – Trend:
2018 can be described as a year full of many important events both for the whole world and for Azerbaijan, Samad Seyidov, head of the Azerbaijani delegation to PACE, told Trend.
“The last year was important from the point of view of implementation of energy, transport and other projects,” Seyidov, who is also chairman of the parliamentary committee for international and interparliamentary relations, said. “The most memorable event of 2018 in Azerbaijan was the re-election of Ilham Aliyev as the president.”
Seyidov stressed that this should be regarded as the most important event of the year, as all other achievements are directly related to this event.
“The Azerbaijanis expressed their confidence towards President Aliyev, and it is natural that the president has been carrying out his work at the highest level,” he said. “Of course, Azerbaijan has achieved great success both in domestic and foreign policy.”
Seyidov stressed that such events as including the issue related to Azerbaijan’s territorial integrity in the resolution of the European Parliament, determination of the status of the Caspian Sea, high-level foreign visits, including the arrival of presidents, prime ministers, foreign delegations to Azerbaijan, holding various international forums in the country, the work on Trans Adriatic Pipeline (TAP), Trans Anatolian Natural Gas Pipeline (TANAP), the opening of the STAR Refinery in Turkey by the Azerbaijani state oil company SOCAR can be mentioned.
“These and other achievements testify that 2018 was very successful,” Seyidov stressed.
He said that 2018 was also successful in terms of the development of Azerbaijan’s relations with neighboring countries.
“During 2018, Azerbaijan further developed relations with Turkey, Georgia, Iran and Russia,” he said. “Azerbaijan was able to attract more trust and positive attitude from the Collective Security Treaty Organization than Armenia itself, which is a member of that organization, because Azerbaijan brought Armenia’s non-constructive position, which is contrary to good-neighborly relations, to the whole world.”
“2018 was significant for Azerbaijan from the point of view of security,” Seyidov added.
“Choosing Azerbaijan as a venue for holding a meeting between the highest military representatives of the US and Russia, holding a joint Azerbaijani-Turkish military parade and further strengthening our army are of particular importance,” he said.
“Of course, all this influences the settlement of the Armenia-Azerbaijan Nagorno-Karabakh conflict,” he said. “The recent processes demonstrate that Azerbaijan welcomes peaceful settlement of the conflict, but does not exclude the military solution to the conflict; on the contrary, Armenia is afraid of both peaceful solution and military solution of the Nagorno-Karabakh conflict.”
Seyidov added that 2018 was very successful for Azerbaijan and this gives grounds to assert that 2019 will be even more successful for the development of the country.
The conflict between the two South Caucasus countries began in 1988 when Armenia made territorial claims against Azerbaijan. As a result of the ensuing war, in 1992 Armenian armed forces occupied 20 percent of Azerbaijan, including the Nagorno-Karabakh region and seven surrounding districts.
The 1994 ceasefire agreement was followed by peace negotiations. Armenia has not yet implemented four UN Security Council resolutions on withdrawal of its armed forces from the Nagorno-Karabakh and the surrounding districts.
Vladimir Putin congratulated Robert Kocharyan on coming New Year and Christmas holydays
ArmInfo. Russian President Vladimir Putin congratulated second Armenian President Robert Kocharyan on the upcoming New Year and Christmas holydays.
According to the office of the second president of Armenia, Vladimir Putin, congratulating Kocharyan on the upcoming holidays, wished him “sound health, strong spirit and tenacity”. To recall, Robert Kocharyan is under arrest since December 7.
The Ministry of Diaspora is the home of Diaspora Armenians
Dear colleagues,
Feel free to print this profitable and now relevant code for your own.
Սիրով՝
Sevak Jacobian
Diaspora Ministry of Diaspora Armenians
is the house
Spoken by: SEVAK JACOBIAN
“ZARTONK”, BEIRUT-YEREVAN.RA:
After the National Assembly elections, the RA government is reviewing
government structure and optimizes
management system. Instead of 17 ministries it offers
to have 12 ministries in the government. in Armenia and the Diaspora
have become the subject of discussion, especially by the Ministries of Diaspora and Culture:
the problem of uniting with other ministries. In this regard, I present to you “Zartonk”.
the interview with the founder of RA Diaspora
with Minister Hranush Hakobyan, by which he appeals to the RA Prime Minister once again
to discuss the issue of maintaining the Ministry of Diaspora.
***
–
MrsHakobyan, in recent days
There was a lot of noise about the closure of the Ministry of Diaspora. In:՞What can you say as a founder?
minister.
10 years ago, when the Republic
the president offered me to assume that responsible position and undertake the Ministry of the Diaspora
creation process, I suggested and asked for further discussions to be refined
the objectives, tasks, functions, structure, etc. of the ministry. of 2008
The Ministry of Diaspora did not find a place in the government formed in April. The final decision was made to open it on October 1. Already 3 months later, our baby
it became clear to us with the team that this ministry is being created 17 years late. Part of the work with the diaspora was carried out by the Ministry of Foreign Affairs, a small part by the Ministry of Internal Affairs.
and the actual work, connections and relations were in a state of disrepair.
–
At that time, if I am not mistaken, you were a deputy of the RA National Assembly.
Yes, I have been in parliament for 22 years
I was, by the way, elected 5 times by the people:
with the majority electoral system, and has been in charge since 2003
I was the Committee on Science, Education, Culture and Youth Affairs of the National Assembly,
I was the author of more than 100 laws and worked as the Minister of Social Security.
And let me say to the uninformed that I was not idle for a ministry to be created for me.
but its creation was the imperative of the time. in the government and parliament
taking into account my experience and knowledge,
that I was offered to start the establishment of that ministry.
–
And how?±accepted this
Creation of the Ministry of the Diaspora.
In the Diaspora it definitely is
was not accepted. Voices were heard that the ministry is a governing body and what is it?
have come to rule us. Or some part thought it should survive the Diaspora
at the expense of financial means. There were also people who were perhaps rightly opposed to the ministry
to the name and suggested the Ministry of Relations with the Diaspora, etc. We succeeded
from nothing, from zero state, contributing to Diaspora
of large structures, organizations, individuals, scientists, spiritual leaders, Worked with AGBU management for about 1 year
and discuss, then on August 20, 2009, the RA Government approved the Homeland-Diaspora
cooperation strategy and to establish clear policy principles:
1. Support working in the Diaspora
structures, organizations in important works of Armenian protection, fight
to keep the youth Armenian on foreign shores.
2. Discover the potential of the Diaspora
and use it for the development of Armenia’s economy.
3. Develop and implement programs,
which will promote repatriation.
We undertook this hard, responsible and extremely important task
with a dedicated team and, I think, with honor
the mission of our organization. They were developed and realized in twenty-five years
more pan-Armenian programs, contacts were established with our compatriots living in hundreds of countries,
with thousands of organizations, structures and figures.
Cooperation was concluded with Pan-Armenian organizations
clear agreements, memoranda of understanding.
of the RA National Academy of Sciences, YSU, “Noravank”
108 scientific projects were carried out by the scientists of the Scientific and Educational Foundation on our order
researches dedicated to various issues of the Diaspora. Armenian, English, Russian
and every year we published “Diaspora” with a volume of more than 600 pages in classical spelling.
yearbook that includes Diaspora communities
and meaningful information about their activities, becoming Armenians
a part of recent history, a publication with general scientific value, source-based
with a huge amount of material.
To fill the gap in Diaspora knowledge, Diaspora problems
to study it scientifically, first of all, specialists were needed. Here’s why
at our request and recommendation, a Chair of Diaspora Studies was opened at YSU, which we prepared
is more than a hundred master’s diaspora scholars, and all social scientists of the National Academy of Sciences of the Republic of Armenia
Diaspora departments were founded and expanded in institutes.
–
T:Mrs. Hakobyan, great attention from the Ministry
was focused on the consolidation of Armenian professional potential and its purposeful use
for the development of the motherland, some of which I personally participated in and can testify to
so that your efforts to unite journalists do not go in vain.
Yes, you are right. It became the best format for the activity
holding pan-Armenian professional conferences. Organized within ten years
and 104 conferences, which provided an opportunity for specialists from Armenia and the Diaspora
communicate with each other, transfer advanced experience, develop scientific programs, implement them
professional partnership projects. Many diaspora professionals became important
program managers, opened offices
in the homeland, Armenian scientists were involved in their scientific research,
conducted courses at universities, supervised post-graduate students, becoming a communicator
to the ongoing scientific works in the homeland. During that time, architects,
Pan-Armenian associations of journalists, lawyers, bankers, artists, cardiologists and other professionals. Conferences
and during dozens of conferences, the preservation of Armenian identity, Armenians were discussed
to the rapprochement of the two branches of the language, preservation and development of the Western Armenian language, classical spelling
transition, international recognition of the Armenian Genocide, Islamized and hidden Armenians, mixed marriages
and many other issues.
–
youalso continued
The tradition of pan-Armenian conferences was established in 1999.
In the diaspora, they caused special anticipation and enthusiasm
Pan-Armenian conferences (2011, 2014, 2017). Despite the skeptics growing up
the number of participants of these conferences was expanding
geography. Only in 2017, 1842 people from 71 countries participated in this important pan-Armenian forum.
which was an irreplaceable platform for expanding Armenia-Diaspora relations and cooperation programs
and presenting their results, pan-Armenian strength and power in the Diaspora
and to demonstrate in the Motherland.
As a result of the conferences, national and state were established
priorities, which were the basis for further work.2017 approved by the conference
the following national priorities:
–
powerful and: safe of Armenia construction,
–
Artsakhindependence and security
providing
–
Most of the diaspora
the organization
–
the observation of the Armenian language as a threat to the protection of Armenians,
–
Armenian Genocide
the struggle for international recognition 100 years later,
–
of the Armenian Church
gathering around
–
safety of Armenians in emergency situations
provision and so on.
Important for the politics of a state with a diaspora of seven million
one of the achievements was the adoption of the mature dual citizenship institution, RA
As a result of changes in the constitution and legislation.
–
I would like you to list the Armenian protection
some of your programs aimed at.
Connecting the Diaspora to the Homeland, Armenian youth living abroad
was aimed at instilling patriotism
“Come Home” program, which became the most loved and accepted program in the Diaspora. It doesn’t
not only helped Diaspora Armenian youths and girls unite around the homeland, but also mutual ties
created representatives of different communities of the Diaspora, as well as of them and Armenia
between host families. The thousands of Armenian youth who participated in this program today
are our “ambassadors” in the Diaspora. Or how much time, effort and work we put in
To organize and hold “My Armenia” festivals at a high level, cultural
performed by Diaspora song, dance, and theater groups to enliven life in the Diaspora
to present the work in the homeland, to introduce them to the culture created in Armenia
to make
Those operating at Yerevan State University were of great importance
Diaspora Armenian teacher training and Diaspora schools in Diaspora School
programs to provide textbooks. Ministry from a thousand in only four years
more Armenian schools provided more than
three hundred thousand pieces of books, educational materials. Or Georgian Armenian
from computers provided to schools, cultural and sports centers, sports
the property was used by many young people who enthusiastically participated together
organized various events. It became a unique school for preservation of Armenian identity
“Alexander Mantashyants” Armenian house founded by us in Batumi. In the diaspora: in Latin America, in the Russian Federation,
Middle East, Australia, other regions with particular warmth
accepted teachers, professors, singers sent by the ministry
and artists.
The Diaspora was given a special charge by the ministry’s “Meronk”, “Diaspora hour”, “Hay lur Diaspora”, “Hay Diaspora”, “About Armenians of other faiths”, “Ten problems of immigrating to Armenia and ways to overcome them”, “Armenian family tree”, “Our elders”, “Our benefactors”, Armenian language educational programs, “Kurj” and other radio programs, as well as our slogans: “Armenia is the Motherland of all Armenians”, “He who feels Armenian is an Armenian”, “Diaspora Armenians should benefit and have income in the homeland”, “Recognize, trust and cooperate”, “What have you done for Artsakh” and etc.
– These days in the fight against the closure of the ministry
are also the Syrian Armenians. In:՞how about that?
In 2012, when
it could already be noted that the main directions of the Ministry’s activity
are adjusted, and it is necessary to give a new quality to the programs and manuals, the most organized Armenian
the sword of Damocles hung over the head of one of the communities, the Syrian community. Our compatriots
After 100 years, they were forced to become landless again
leave home and workplace, business and
property like their grandfathers
taking the path of migration. The only hope and bright spot was that some of them
were coming to the Motherland. And in Armenia their reception, accommodation, work, education,
support in healthcare and other issues, integration into the country and society
all responsibility was assigned to the RA Ministry of Diaspora.
Syrian Armenians were cultivated
complex support programs were launched
clear structures for solving their problems, which were also supported by Pan-Armenian
structures. The work carried out with the Syrian Armenians is the best of the professional structures of the United Nations
considered the opening ceremony of the session of the UN General Assembly on refugee issues
was entrusted to the representative of the Government of the Republic of Armenia.
–
In:՞What would you say, are there Diaspora ministries in other countries?
In countries with a large Diaspora
over time, ministries, agencies, and structures dealing with the problems of the Diaspora are also being opened.
there are also cases that are shortened /Georgia,
Lebanon, France.
–
In that case՞what about our country?
Today the people are absolute
gave a vote of confidence to the RA Prime Minister and his team, and it is natural that the Prime Minister will decide the development of the country
main priorities. Taking advantage of this opportunity, I want to appeal to the Prime Minister
once again to discuss the possibility of maintaining the Ministry, taking into account
that 2/3 of our nation lives outside the homeland and a vast experience of working with them
has accumulated, there are close ties and relationships established over the years
Experience and knowledge acquired, dedicated, responsible and hardworking young people
composed team.
–
No՞do you think
that there are interesting responses from the Diaspora.
That’s the answer to all of it
ignorant people who talk about the poor work of the Ministry of Diaspora. Happy
and I am proud that the Ministry was established
take deep roots in the Diaspora, its role and importance is appreciated by our Diaspora
by strict structures. It is also proof that the ministry ever
did not have a symbolic nature, but became a symbol of the Motherland
and development and strengthening of Diaspora ties
in action.
You only need to know, recognize the Diaspora, its multi-layered, multilingual, multi-religious,
multi-necessary nature to be able to form relationships and act on it
with. And us with great difficulty, step by step
managed to win the trust of the Diaspora, appreciate and appreciate the efforts of many individuals and structures, Armenian
preservation of identity, unfailing dedication to the struggle of the Armenian Genocide and to the Motherland
for services rendered.
I want to address my colleagues,
Diaspora Armenian friends interested in the issue, expressing thanks to them
with their help we built the ministry, devoting ten years of my life to that structure
establishing, increasing the reputation, the Republic of Armenia in the Diaspora proper
to present, to present the problems of the Diaspora to the native government, the ministry
to make it a home for Diaspora Armenians. Understandable
is that my heart hurts so much bit by bit
for the dissolution of the structure built by suffering.
JPEG image
No negotiations over deployment of servicemen from third countries in Armenia – Naghdalyan
YEREVAN, December 20. /ARKA/. Armenia is not conducting negotiations over deployment of servicemen from third countries, Anna Naghdalyan, press secretary of the Armenian foreign ministry, said Thursday at a briefing while commenting on a statement of Sergey Lavrov, Russian foreign minister.
In an interview with Komsomolskaya Pravda, Lavrov, answering a question about American bio laboratories, said that Moscow and Yerevan were preparing a document which should guarantee the absence of foreign servicemen in bio laboratories.
Armenian Acting Prime Minister Nikol Pashinyan said yesterday that the matter had been discussed with the previous, not present government.
Naghdalyan is quoted by Novosti-Armenia as saying that these laboratories are Armenian, they belong to Armenia and controlled by the country.
“Only Armenian experts work at these laboratories,” she said adding that the laboratories are civil in their purpose, and therefore there is no problem of military presence here. -0—
CEC:Electoral spending of ruling "My Step" bloc were the highest 268.590.708 drams
ArmInfo.According to the CEC, the ”My Step” bloc, led by Acting Prime Minister of Armenia Nikol Pashinyan, spent the most money on election campaigning for the early elections.. This amount was 268.590.708 drams. Meanwhile, in the elections of 2017, the ”Yelk” bloc, represented by Pashinyan, spent only 42,652,739 drams.
Next come the Republican Party of Armenia, which spent 127.342.492 drams. “Prosperous Armenia” and “Enlightened Armenia” spent an equal amount of funds for 102 671 425 drams. ARF “Dashnaktsutyun” spent 47 086 922 drams, “We” bloc – 31 459 837 drams, “Orinats Yerkir” party – 18 246 932 drams, “Sasna tsrer” – 18 246 932 drams, ” Citizen’s decision ” – 6 115 480 drams, the “Christian Revival” party – 3984700 drams and the party “National Progress” spent the least amount – 489 400 drams.
In general, 671,518,545 drams were spent on the pre-election campaign, instead of 865,405,948 drams from last year, although 9 forces took part in the 2017 elections. The lion’s share of these costs fell to the share of the Republican Party – 386,822,249 million.
Russian Election Commission members to observe parliamentary election in Armenia on December 9
Russian Election Commission members to observe parliamentary election in Armenia on December 9
MOSCOW December 4
HIGHLIGHT: Secretary of the Russian Central Election Commission (CEC) Maya Grishina and member of the commission Nikolai Levichev will act as observers at a regular election to the Armenian National Assembly on December 9, the Central Election Commission reported on Tuesday.
MOSCOW, December 4. /TASS/. Secretary of the Russian Central Election Commission (CEC) Maya Grishina and member of the commission Nikolai Levichev will act as observers at a regular election to the Armenian National Assembly on December 9, the Central Election Commission reported on Tuesday.
“Secretary of the CEC of Russia Maya Grishina will take part in the observation at the invitation of the Central Election Commission of the Republic of Armenia. Member of the CEC of Russia Nikolai Levichev will take part as a member of the CIS observer mission,” the CEC said in a statement.
The parliament of the republic, formed after the 2017 election, stopped operating after the MPs had not approved Nikol Pashinyan as Prime Minister at a special session on November 1. The decree on an early election was signed by the Armenian president in correspondence with the country’s constitution.
Eleven parties and blocs are taking part in the election campaign. Acting Prime Minister Nikol Pashinyan’s party Civil Agreement is taking part in the campaign as part of the My Step bloc, which is led by Pashinyan himself.
Calendar of Events – 11/29/2018
Armenian News's Calendar of events
(All times local to events)
=========================================
What: "Eyewitness Account About Armenia's Healthcare"
a lecture is given by Mike Sarian
When: Dec 16 2018 1pm
Following Church Divine Liturgy which starts at 10:30am
Where: Armenian Apostolic Church of Crescenta Valley
Western Prelacy's Hall, 6252 Honolulu Ave., La Crescenta, CA
Misc: This presentation will focus on showing a new understanding of
healthcare and hospital services including revolutionary
improvements in medical services as required in Armenia and
Artsakh. Mike Sarian met both the prime minister of Armenia,
Nigol Pashinian, and president of Artsakh, Pago Sahakian, on
October 2018, discussing various healthcare projects that have
been planned and are to be implemented.
Mike Sarian is President of Hospital Operations for Prime
Healthcare Services covering 46 hospitals in 15 states. Mr.
Sarian has more than 25 years of executive management
experience in healthcare. He is also active in various
community, charity and civic organizations. In 2017,
Mr. Sarian was recognized by Modern Healthcare magazine as one
of the "Top 25 Chief Operating Officers in Healthcare."
The event is free to the public.
Online Contact: [email protected]
Tel: 818-244-9645
***************************************************************************
Armenian News's calendar of events is collected and updated mostly from
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To submit, send to Armenian [email protected], and please note the following
important points:
a) Armenian News's administrators have final say on what may be included in
Armenian News's calendar of events.
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a final reminder before weekend activities kick in.
c) Calendar items are short, functional, and edited to fit a template.
d) There is no guarantee or promise that an item will be published on time.
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No entrepreneur in Armenia will be forced to give part of their business to someone else
YEREVAN, November 29. /ARKA/. Addressing the residents of the town of Martuni in Gegharkunik province today, the acting Prime Minister Nikol Pashinyan said no entrepreneur in Armenia will be forced to give part of their businesses to someone else.
During a September 11 rally in Yerevan, Pashinyan demanded that ex-president Robert Kocharyan and all the oligarchs return the assets they stole from the people. In particular, he set a deadline for Alexander Sargsyan, the brother of another former president Serzh Sargsyan, to withdraw $30 million from a local bank and return it to the state budget, saying this is the money he had extorted from local business people for which he was nicknamed “Sashik 50%”. Yesterday, Pashinyan announced that Alexander Sargsyan was ready to return the $30 million to the state budget.
“I want to ask all our compatriots working abroad to return to the country and invest not only in building houses, but also in the creation of enterprises. I guarantee that no one else in Armenia will dare to seize part or parts of their businesses,’ Pashinyan said in Martuni today. He said he believes that in the next five years Armenia will be able to make an economic revolution.
“We are sure that you can work and also get rich. And our main business is to create conditions for citizens to work effectively. And as we made a political revolution in Armenia 7 months ago, we must now make an economic revolution together in the next five years,” declared Pashinyan.
Pashinyan is visiting Armenian regions to campaign for his My Step alliance for December 9 early parliamentary elections. He resigned October 16 to clear way for the dissolution of the parliament and holding early parliamentary elections. Under the Armenian Constitution, early elections are held if lawmakers fail twice within 14 days to appoint a prime minister.
Pashinyan was elected as PM by the country’s National Assembly after former president turned-prime minister Serzh Sargsyan resigned on April 23 under immense public pressure provided by weeks of nationwide protest against Sargsyan and his Republican Party.
Nine political parties and 2 blocs will be contesting the polls. They are My Step bloc, the Prosperous Armenia Party, the National Progress Party, the Christian-National Revival, the Sasna Tsrer All-Armenian Party, the Orinats Yerkir Party, the We bloc, the ARF Dashnaktsutyun Party, the Bright Armenia bloc, the Republican Party of Armenia, the Social Democratic Party and the Decision of Citizen party. -0-
Armenian-Russian relations need special care: Robert Kocharyan
Direct or indirect calls to review traditional for Armenia geopolitical priorities during this not calm period are really dangerous even if not brought to reality, Armenia’s second president Robert Kocharyan said at the Lazarev Club plenary session today in Yerevan.
“The Armenian-Russian relations need special care. IT and social networks create big opportunities for manipulating public moods, sow doubts and distrust among the people which will result in the erosion of our decades-long ties,” Kocharyan said.
He stressed that each friendship demands efforts, time, energy and emotions.
“Friendship has inertia but it cannot develop and be stable on its basis only. Friendship stops when concerns about the sincerity appear and when one of the parties want to get more than give. It is very difficult to be friend with constant beggars. Such relations are irritating,” Kocharyan said.
He stressed that friendly relations between countries is not just coincidence of interests it is a fusion of state interests and deep penetration of human factor in the relations of societies.
“I cannot find any other example of such relations like in case of Armenia and Russia. We have inherited them and we must exert efforts every day to maintain and develop them,” Kocharyan stated.