Author: Ani Tigranian

Moscow does not expect any radical changes in Armenia’s foreign policy after elections to the parliament, the National Assembly, due this April, despite the country’s switch to the parliamentary form of government, Russia’s Ambassador to Armenia Ivan Volynkin said in an interview with .

“We consider that the elections scheduled for April 2, 2017 are rather interesting as Armenia is switching to the parliamentary form of government,” the ambassador said. “Under the country’s new Election Code, the opposition should occupy not less than one third of seats in the National Assembly.”

“At the same time, an important moment is the guarantee of a “stable majority” in the country’s parliament that should ensure continuity of the political process in Armenia,” the diplomat said. “Taking into consideration these facts, we see no solid reasons for Yerevan to change its foreign policy line radically,” he said.

company that acquired the Vorotan Cascade in 2015. The package includes a loan of $45 million for IFC’s own account and parallel loans of $65 million from FMO, the Dutch development bank, and $30 million from DEG, the German Investment and Development Corporation.

The loans will help ContourGlobal upgrade the 404-megawatt Vorotan complex, parts of which are almost four decades old. As a result, the project is expected to generate around 1,150 gigawatt hours of electricity annually and will help combat climate change by preventing the release of more than 55,000 tons of greenhouse gases per year. The financing is expected to boost electricity reliability, providing a steady supply of clean power to additional 60,000 residential customers.

“We are very pleased to have completed this innovative long-term financing package for Vorotan and we would like to thank our partners at IFC, FMO, DEG, for their commitment to the project,” said Ara Hovsepyan, General Manager of ContourGlobal Hydro Cascade. “We would also like to thank the Government of Armenia for its work in facilitating these transactions. They provide a stable, long-term capital structure, which allows us to continue our work while making sure that the operational performance, safety, reliability, and efficiency of this plant are maintained at world-class standards.”

This financing package also marks IFC’s first debt investment in Armenian infrastructure. In addition to the loan, IFC is a sole provider of an interest rate swap, which will help ContourGlobal Hydro Cascade hedge the interest rate risk on the financing package, protecting it from any fluctuations in the interest rate. IFC is one of the few development finance institutions to offer hedging instruments to its clients—private sector companies in emerging markets—to better manage interest and currency risks.

“Supporting renewable energy is IFC’s top priority and is part of our commitment to address climate change,” said Wiebke Schloemer, IFC Regional Industry Head of Infrastructure for Europe, the Middle East and North Africa. “Globally, we have seen how private businesses can help spur the development of energy infrastructure. The upgrade of Armenia’s Vorotan complex will help provide clean energy for tens of thousands of people. This investment is also expected to open the door to additional private investment in the country’s vital infrastructure.”

The Vorotan Cascade includes three hydropower plants and provides 15 percent of Armenia’s electricity. Increasing its capacity is key for Armenia, a country that imports fuel to cover around 90 percent of its
energy needs.

In 2015, IFC bought a minority stake in ContourGlobal Hydro Cascade to support the entry of an established private sector power developer and operator in Armenia, helping the company acquire, operate, and rehabilitate the Vorotan Hydro Cascade.

Armenia became an IFC member in 1995. Since then, IFC’s long-term investment commitments have totaled $480 million, including nearly $118 million mobilized from other lenders. That has financed 49 projects across a range of sectors, including financial markets, manufacturing, agribusiness, services, and mining. IFC has also supported trade transactions worth more than $130 million through its trade finance program, and implemented advisory projects focused on private sector development.
In fiscal year 2016, IFC invested almost $19 billion in developing countries worldwide.

The OSCE Minsk Group Co-Chairs are ready to organize a meeting between the Foreign Ministers of Armenia and Azerbaijan on the sidelines of the Munich Security Conference in mid-February, Russian Co-Chairs Igor Popov told TASS.

“The OSCE Minsk Group Co-Chairs have agreed to hold separate consultations with the Foreign Ministers of Armenia and Azerbaijan on the sidelines of the Munich Security Conference in mid-February,” he said.

“If the Ministers show interest, we’ll organize a meeting between them,” Popov added.

Besides, he said, according to an agreement reached in St. Petersburg last summer, consultations continue in Russia-Azerbaijan-Armenia format.

“Russian Foreign Minister Sergey Lavrov has recently discussed the Karabakh issue with Armenian Foreign Minister Edward Nalbandian and Azerbaijani Foreign Minister Elmar Mammadyarov. As soon as necessary conditions are created, there will be a possibility of a trilateral meeting,” the Ambassador added.

Armenian Foreign Minister Edward Nalbandian told a press conference yesterday that “Armenia never refuses from any meeting.”

“The meeting with the Azerbaijani Foreign Minister will take place, if the Azrei side agrees,” Minister Nalbandian said.

A Nigerian military jet has mistakenly bombed a camp for displaced people in the north-east, killing at least 52 people and injuring many more, the BBC reprts.

Aid workers are among the dead in Rann, with the Red Cross saying six of its employees were killed.

The MSF aid agency said that over 200 people had been injured and appealed for help with medical evacuations.

President Muhammadu Buhari, whose army is fighting Boko Haram militants, expressed dismay and urged calm.

The attack took place near the border with Cameroon, where the military is engaged in what it calls its final push against Boko Haram.

It is thought to be the first time Nigeria’s military has admitted to making such a mistake.

Henrikh Mkhitaryan has claimed the Carling Goal of the Month for December, according to the Premier League’s official website.

The Manchester United midfielder’s acrobatic scorpion kick helped his side earn a 3-1 victory over Sunderland on Boxing Day.

It was chosen as the best from a shortlist of eight goals from the combined votes of a panel of experts and the public, who picked their favourite via the Carling Tap and website.

President Serzh Sargsyan has sent a letter of condolences to the President of the Russian Federation Vladimir Putin on the crash of the aircraft in the Black Sea that killed dozens.

“I express my deep condolences, support and sympathy to you, friends and families of the victims and the brotherly people of Russia. I wish tenacity and courage to overcome this tragedy,” reads the letter of condolences of the President of Armenia.

Russian Defense Minister Sergei Shoigu and his Armenian counterpart signed an agreement on establishing combined forces, a RIA Novosti reports.

Armenian Defense Minister Vigen Sargsyan said the group would include Russia’s military base in Armenia, as well as units of the Armenian armed forces. The ministers signed a cooperation plan for 2017.

Russian President Vladimir Putin singed off on a decree to establish a combined task force on November 14. Previously, Russia and Armenia signed the agreement that established regional Unified Air Defense System as part of Joint Commonwealth of Independent States Air Defense System in December 2015.

FourFourTwo has ranked Armenia international Henrikh Mkhitaryan 60th in its list of  2016.

“Mkhitaryan’s meagre two starts in 2016/17 – Jose Mourinho being oddly reluctant to play the £27m signing – are comfortably outweighed by the playmaker’s phenomenal 2015/16. After all, Mkhitaryan was named Player of the Year by 235 Bundesliga pros surveyed in German magazine Kicker and came third in the official players’ vote. How quickly we forget. How quickly Jose forgets,” the website writes.

The Armenian was reborn under Thomas Tuchel in his final Borussia Dortmund campaign. Mkhitaryan scored or assisted – and this isn’t a typo – 55 goals in 52 games, which is frankly obscene. Operating sometimes behind Pierre-Emerick Aubameyang but more commonly drifting in from the right, Mkhitaryan showed he’s a true raumdeuter, a space investigator, and one who knows where the goal is.

“If that’s not enough, he speaks seven languages fluently and his dad was called Hamlet,” FourFourTwo reminds.

President Serzh Sargsyan sent today a letter of condolences to the President of the Council of State and the Council of Ministers of Cuba Raúl Castro Ruz on the occasion of the death of his brother Fidel Castro Ruz, extending condolences and solidarity to him and the friendly people of Cuba.

“The role and significance of Fidel Castro in the modern history of Cuba is, indeed, hard to overestimate. This is bereavement for the people of Cuba who sincerely loved and respected him. Remaining faithful to his ideologies and principles until the end and preserving the brave and noble qualities, Fidel Castro will continue inspiring and guiding the new generations of Cuba”, reads the letter of condolences of the President of Armenia.

Tomorrow, on November 24, the Hayastan All-Armenian Fund will hold its 19^th annual Telethon, under the slogan “My Artsakh.” Proceeds from the pan-national event will benefit the rebuilding of war-ravaged communities in Artsakh, emergency and disaster preparedness for Armenia and Artsakh, and the construction of homes for Artsakh families with multiple children. In addition to these initiatives, donor-specified projects as well as projects within the framework of the fund’s core development programs will continue to be implemented in Armenia and Artsakh.

The Telethon will be broadcast from Los Angeles beginning 10 pm Yerevan time. The 12-hour event will air live in Armenia on major television networks including Public TV, Armenia, Shant, and Yerkir Media, as well as online at www.himnadram.org.

The Telethon will encapsulate the Hayastan All-Armenian Fund’s completed and ongoing projects this year. The broadcast will conclude with an announcement of the total amount raised through the Telethon as well as various fundraising campaigns and events carried out by the fund’s worldwide affiliates in 2016.

You can make a donation:

• By sending an SMS to the number 8000 or by calling 090008000 for a contribution of 300 drams;
• In person at any Haypost branch in Yerevan or throughout the regions of Armenia;
• In person at the office of the Hayastan All-Armenian Fund Executive Board in Yerevan;
• Through a bank transfer to any of the fund’s account numbers at theCentral Bank of Armenia: 103003215672 (AMD) or 103003615673 (USD);
• Online at himnadram.org