European Fund for Southeast Europe partners with Armenian bank to help small businesses


The European Fund for Southeast Europe (EFSE) has partnered with Inecobank in Armenia by providing US$10 million in financing to support micro, small and medium enterprises (MSMEs) operating in critical sectors such as agriculture, manufacturing, and transportation, The financing is expected to enable around 1,200 loans to MSMEs and to support more than 4,000 jobs.

The investment is an essential part of EFSE’s overall programme to support MSMEs affected by the economic, social, and security challenges triggered by the Russian invasion of Ukraine and the related sanctions.

Rising inflation and surging energy prices are raising MSMEs operational costs and depleting their liquidity buffers. The investment aims to give MSMEs in vital sectors continued access to finance to secure the needed inputs, services, inventories, and reserves, and to help them mitigate supply-chain disruptions. 

Working with the EU4Business initiative, EFSE aims to foster economic development and prosperity in Southeast Europe and the Eastern Neighbourhood Region by investing in the success of micro and small enterprises as well as improved living conditions for private households. 

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Press release

Armenians drench each other at water festival


Updated: 26/07/2022

Screaming and water splashes – this is what the Armenian capital looks like during water festival Vardavar.


People bathe in fountains, shoot each other with water guns, pour water on the heads of passers-by from balconies – and no one gets offended.

Vardavar is a national festival unique to Armenia and counts as one of the craziest summer events in the country.


Watch the video report at 


Central Bank of Armenia: exchange rates and prices of precious metals – 26-07-22

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 17:15,

YEREVAN, 26 JULY, ARMENPRESS. The Central Bank of Armenia informs “Armenpress” that today, 26 July, USD exchange rate down by 1.89 drams to 409.43 drams. EUR exchange rate down by 5.29 drams to 415.57 drams. Russian Ruble exchange rate down by 0.11 drams to 6.98 drams. GBP exchange rate down by 4.36 drams to 491.28 drams.

The Central Bank has set the following prices for precious metals.

Gold price down by 343.15 drams to 22626.70 drams. Silver price down by 1.87 drams to 246.88 drams. Platinum price stood at 16414.1 drams.

Vice Speaker Rubinyan, UNGA President Abdulla Shahid discuss regional security

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 17:31,

YEREVAN, JULY 26, ARMENPRESS. The Vice Speaker of Parliament Ruben Rubinyan held a meeting with the President of the United Nations General Assembly Abdulla Shahid and his delegation.

Rubinyan praised Shahid’s presidency during the 76th session of the General Assembly, the parliament’s press service said in a press release.

The Vice Speaker appreciated the work implemented by the UN Yerevan office aimed at supporting the ongoing reforms in Armenia, and thanked for the contribution aimed at developing the capacity of the Armenian parliament.

Ruben Rubinyan underscored the necessity of visits of UNESCO and other UN agency representatives to Nagorno Karabakh, especially in the context of the dangers facing the Armenian spiritual and cultural heritage.

Other issues of regional security were also discussed.

Armenia should take necessary steps to improve road safety: Deputy Prime Minister Matevosyan

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 17:46,

YEREVAN, JULY 26, ARMENPRESS. Chaired by Deputy Prime Minister Hambardzum Matevosyan, the first session of the interdepartmental commission created for coordinating the work on improving the road safety level of the Republic of Armenia took place today, ARMENPRESS was informed from the Office of the Deputy Prime Minister.

The session was also attended by Chief of Staff of the Prime Minister of Armenia Arayik Harutyunyan, Deputy Minister of Territorial Administration and Infrastructure Kristine Ghalechyan, Deputy Minister of Health Lena Nanushyan, Deputy Minister of Education, Science, Culture and Sports Karen Trchunyan, regional governors, Head of Traffic Police Yegor Karapetyan, representatives of concerned state bodies and other public institutions.

The purpose of creating the interdepartmental commission is to draw the attention of interested government departments and organizations to the challenges and gaps facing Armenia in the field of road safety, creating a platform for cooperation, information exchange and accountability on road safety issues.

Deputy Prime Minister Matevosyan welcomed the participants of the session and noted that one of the important tasks for the transport system of Armenia is to increase the efficiency of the country's road transport infrastructure and to provide efficient transport services.

"Millions of people die in traffic accidents all over the world. In this regard, the statistics of Armenia are also worrying, because more than 300 people die from road accidents every year. Armenia should take all the necessary steps to improve road safety, which implies the implementation of measures aimed at revising road safety legislation, improving road infrastructure, vehicle safety, as well as the need to implement educational programs and public awareness campaigns”, Hambardzum Matevosyan emphasized and proceeded to the discussion of the issues on the agenda, which related to the draft national road safety strategy of Armenia and the current state of road traffic safety, as well as existing problems.

Erdoğan and Putin plan to meet on August 5 in Sochi

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 18:18,

YEREVAN, JULY 26, ARMENPRESS. Turkish President Recep Tayyip Erdoğan and Russian President Vladimir Putin will hold talks in Sochi on August 5, ARMENPRESS reports, citing Interfax.

"Turkish President Erdoğan will meet with Putin on August 5 in Sochi," the agency reports.

In turn, the Turkish media say that Erdoğan’s visit to Russia will be one-day.

High-ranking Azerbaijani officers explode on a mine in Karvachar

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 20:10,

YEREVAN, JULY 26, ARMENPRESS. Azerbaijani Telegram channels report that high-ranking Azerbaijani officers have exploded on a mine in the Karvachar region, including General Enver Efendiyev and Brigade Commander Vugar Isbandiyarov, but the Ministry of Defense of Azerbaijan has not yet reported any information about the incident, reports ARMENPRESS.

"As a result of the incident, General of the Ground Forces Enver Efendiyev received minor physical injuries. The senior sergeant, whose name has not been released, was wounded in the shoulder. The condition of the third injured is serious. According to preliminary data, he is the commander of the N brigade, Vugar Isbandiyarov. We are waiting for official announcements from the Ministry of Defense of Azerbaijan," writes one of the Azerbaijani channels.

REFRESHED: The Ministry of Defense of Azerbaijan confirmed the information that Azerbaijani servicemen exploded on a mine in Karvachar region. ARMENPRESS reports Ministry of Defense of Azerbaijan informed the Azerbaijani "APA" agency about this, noting that a serviceman of the Azerbaijani army, Vugar Tofikoglu Isbendiyarov, was injured by a mine explosion.

Armenian FM expresses gratitude to the Czech side for continuous support to the format of OSCE Minsk Group Co-chairs

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 20:41,

YEREVAN, JULY 26, ARMENPRESS. Armenian Foreign Minister Ararat Mirzoyan gave a speech and answered journalists' questions based on the results of the meeting held in Prague with Czech Foreign Minister Jan Lipavský. Mirzoyan, in particular, expressed gratitude to the Czech side for its continuous support to the efforts and role of the OSCE Minsk Group Co-chairs’ format.

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As ARMENPRESS was informed from the press service of the MFA Armenia, Minister of Foreign Affairs Ararat Mirzoyan said,

“Dear Minister,

Dear Colleagues,

Ladies and Gentlemen,

Firstly, I would like to thank my colleague Jan Lipavský for the very warm welcome. I would also like to seize the opportunity to congratulate the Czech Republic on the successful launch of its presidency in the Council of the European Union.

This is my first visit to Czechia – a country which has officially taken the course of pursuing the legacy of Václav Havel, underscoring human rights, democratic development, strong civil society and multilateral collaboration. Currently, the Government of Armenia is implementing its ambitious agenda of democratic reforms and transformations and Czechia is our reliable partner in this regard.

We highly value our relations with Czechia, based on shared values and historical friendship and are keen to promote the Armenian-Czech political dialogue and interstate relations to a qualitatively new level, including through high-level reciprocal visits, regular consultations between our Ministries of Foreign Affairs and active inter-parliamentary engagement.  

During our discussions, my colleague and I agreed to put our utmost efforts towards the utilization of the potential in the spheres of economy, trade and investment, as well as fostering intercultural exchanges and people-to-people contacts.

Armenia and Czechia have mutually beneficial cooperation also within multilateral formats, including the UN, OSCE, CoE. This is extensively complemented by the Armenia-EU cooperation with its milestone agreement – the Comprehensive and Enhanced Partnership Agreement. We highly value the active role of the Czech Republic in promoting the framework of the Eastern Partnership and stand ready to join efforts in maintaining this cooperation platform in the spirit of mutual understanding, inclusiveness and a merit-based approach.

Dear friends,

Today we also extensively discussed the issues of regional and international security, referred to the Nagorno-Karabakh conflict and the situation resulting from the 44-day war unleashed against the people of Nagorno-Karabakh.

I briefed Minister Lipavsky on Armenia’s position and efforts toward establishing peace and stability in our region, where the OSCE Minsk Group Co-Chairmanship plays a key role in reaching a comprehensive and lasting settlement of the Nagorno-Karabakh conflict. In this regard, I express my gratitude to the Czech side for its continued support to these efforts and the role the OSCE Minsk Group Co-Chairmanship plays.

Nearly two years after the secession of hostilities in Nagorno-Karabakh, humanitarian issues remain unresolved. Azerbaijan continues to hold Armenian prisoners of war and civilian hostages, using them as a political weapon. Also, Azerbaijan’s policy of destruction, desecration of the Armenian cultural and religious heritage in the territories fallen under Azerbaijani control is of great concern. In this regard, we expect a targeted response and practical action from the international community. 

Dear colleagues,

The realities resulting from the use of force and mass violations of human rights cannot create a sustainable foundation for regional peace and security. Armenia has repeatedly stated its readiness for constructive dialogue, refrained from preconditions and warmongering rhetoric, for sustainable peace and development of our region. 

I will conclude my speech with this. Once again, thank you very much Mr Lipavský for your hospitality and please kindly receive my invitation to visit Armenia”.

Asked how Armenia is affected by sanctions on Russia, Ararat Mirzoyan answered, “Of course, sanctions against Russia have their negative direct or indirect impact on Armenia’s economic development and economic situation in the region in general. Thus, we are trying to find short-term and mid-term solutions, mechanisms for addressing, and if possible eliminating these threats. And my hope is that we will succeed in this process”.

The Czech Republic supports Charles Michel’s mediation. Foreign Minister Lipavský‘s answer to ARMENPRESS

The Czech Republic supports Charles Michel's mediation. Foreign Minister Lipavský‘s answer to ARMENPRESS

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 21:01,

YEREVAN, JULY 26, ARMENPRESS. The Czech Republic strictly respects international humanitarian law and the Geneva Conventions and expects the same from other countries, Foreign Minister of the Czech Republic Jan Lipavský said during the press conference following the meeting with the Minister of Foreign Affairs of the Republic of Armenia Ararat Mirzoyan, answering the question of ARMENPRESS about what the Czech Republic is doing, as a country that promotes human rights and humanitarian values, to facilitate the return of 38 Armenian prisoners of war and civilian hostages illegally held in Azerbaijan so far.

Lipavský also added that the Czech Republic supports the mediation efforts of the President of the European Council, Charles Michel, aimed at the settlement of the Armenian-Azerbaijani conflict.

"At any multilateral or bilateral meeting, we emphasize that international humanitarian law and the Geneva Conventions must be respected. The Czech Republic strictly respects them and expects the same from other countries. Speaking in particular about the problem you mentioned, the Czech Republic supports the [President of the European Council] Charles Michel's mediation aimed at the settlement of the conflict, and I think he plays a very important role," the Czech Foreign Minister told ARMENPRESS.

ARMENPRESS also reminded that following the 44-day war that took place in 2020, many international structures have called and adopted resolutions for the immediate return of the Armenian prisoners of war and civilian hostages kept in Azerbaijan to their homeland, including the Foreign Affairs Committee of the Chamber of Deputies of the Czech Parliament, which adopted a similar resolution in February, 2021.




Armenpress: Azerbaijan continues to keep Armenian prisoners of war and civilians in captivity – Ararat Mirzoyan

Azerbaijan continues to keep Armenian prisoners of war and civilians in captivity – Ararat Mirzoyan

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 21:36,

YEREVAN, JULY 26, ARMENPRESS. Armenian Foreign Minister Ararat Mirzoyan introduced the situation created as a result of the war unleashed against the people of Artsakh in 2020 during the meeting with the Foreign Minister of the Czech Republic Jan Lipavský on July 26. ARMENPRESS reports after the meeting with his Czech counterpart, FM Mirzoyan said in his speech that two years after the cessation of military operations, the humanitarian issues still remain unresolved.

Ararat Mirzoyan particularly raised the issue of the Armenian POWs.

"Azerbaijan continues to keep Armenian prisoners of war and civilians in captivity, using them as a political tool. The policy of destruction and desecration of Armenian cultural and religious heritage in the territories that have passed under the control of Azerbaijan is also very worrying. In this regard, we expect a targeted response and practical steps from the international community," Ararat Mirzoyan emphasized.

The Foreign Minister also noted that the realities created by the use of force and massive violations of human rights cannot create a stable basis for peace and security in the region.

"Armenia has repeatedly announced its readiness for a constructive dialogue free from preconditions and bellicose rhetoric for the sake of stable peace and development in our region," Minister Mirzoyan said.