700 ARMENIAN FAMILIES RECEIVE LOANS FOR HOUSE HEATING

Noyan Tapan
Dec 12 2006

YEREVAN, DECEMBER 12, NOYAN TAPAN. 700 Armenian families received
loans for heating of private residential houses through the ACBA
Credit Agricole Bank.

Tamara Babayan, Director of the Renewable Energy and Energy Saving
Fund, told reporters on December 12 that the total cost of the
private residential house heating program is 4.2 million USD, which
was allocated to Armenian banks by the World Bank. In her words,
given the fact that the loan-giving bank does not use a pledge,
the annual interest rate of a loan makes 24% and it is repayble
over 3 years. The loans of 50 thousand drams (about 135 USD) to 1
million drams are provided, the maximum amount is 1.5 mln drams. It
was mentioned that ACBA Credit Agricole has submitted a bid for
1.2 mln USD, 900 thousand USD of which has already been provided to
citizens. T. Babayan noted that unless other banks become more active,
the remaining sum will also be provided as loans by this bank.

From: Emil Lazarian | Ararat NewsPress

LOANS FOR CONSTRUCTION OF SMALL HYDROPOWER PLANTS PROVIDED IN ARMENIA

Noyan Tapan
Dec 12 2006

YEREVAN, DECEMBER 12, NOYAN TAPAN. The Cascade Credit Bank has already
approved the program of constructing two small hydropower plants in
Armenia under the renewable energy program. Tamara Babayan, Director of
the Renewable Energy and Energy Saving Fund, told reporters on December
12 that for the purpose of constructiing small hydropower plants in
Armenia the World Bank gave a $5 million credit to Cascade Credit
Bank, which in its turn will provide a libor plus 7.5% interest rate
to a hydropower plant builder. Besides, 3 million USD was invested
by Cascade Credit and 7 million USD – by the European Bank for
Reconstruction and Development (EBRD) for this purpose. According
to T. Babayan, loans are provided for 8 years, the maxumum amount –
1 million USD, and the builder must invest 30% of the program’s total
cost. It was mentioned that the bids received already exceed threefold
the total amount of the credit.

EBRD FORECASTS 8.5% GROWTH OF ARMENIAN ECONOMY IN 2007

Noyan Tapan
Dec 12 2006

YEREVAN, DECEMBER 12, NOYAN TAPAN. According to the 2006 Transition
Report of the European Bank for Reconstruction and Developemnt (EBRD),
in 2007 Armenia’s GDP will grow by 8.5%, while a 12.5% GDP grwoth
was forecast for 2006.

Alexandru Kirmichiu, EBRD economist, said this when presenting the
above mentioned report on December 12. In his words, 50% of Armenia’s
economic growth is now ensured by the construction sector, with
services also accounting for a considerable share of GDP growth. The
EBRD assessed as positive the reforms in the country’s financial
sector and the entrance of a new mobile phone communication operator
into the country. A. Kirmichiu noted that the lack of competition is
the main problem of the Armenia’s economic development, while reforms
of the business environment and corporate governance will remain
a condition for increasing investments. According to the speaker,
although in 2005 the private sector’s crediting increased by 33% in
Armenia, the accessibility of financing is one of the lowest in the
CIS and Eastern Europe. The ratio of domestic credits to GDP made 8.2%
in the country7 It was noted that this index may be doubled thanks to
further reforms in the financial sector. The EBRD economist noted that
the dram’s appreciation may pose a threat to economic development,
if the productivity of the Armenian economy is not increased. He
expressed a hope that investments to foster this growth will be made.

From: Emil Lazarian | Ararat NewsPress

60% OF EUROPEANS AGAINST TURKEY’S MEMBERSHIP

PanARMENIAN.Net
12.12.2006 14:17 GMT+04:00

/PanARMENIAN.Net/ The next survey of public opinion in Europe showed
that 60 % of Europeans are against Turkey’s EU membership. With only a
short period of time left before the EU makes some critical decisions
regarding the Turkish accession process, a poll in 5 different EU
countries shows an ever-lower level of public support for Turkey’s
potential membership.

According to the poll, which was carried out by France Inter, an
average of 26% of EU members now support a Turkish membership. The
poll of 1,000 people found that 60% of the respondents said that they
did not want Turkey to join the EU, while 14% said that they had no
opinion, Hurriyet reported.

TURKISH FOREIGN MINISTRY "CONDEMNS" REFERENDUM IN KARABAKH

PanARMENIAN.Net
12.12.2006 15:17 GMT+04:00

/PanARMENIAN.Net/ Turkey does not recognize the outcome of the
referendum held in Karabakh, December 10. The statement made by
Turkish Foreign Ministry says that the International Law and the
World community will not recognize the adoption of constitution in
Nagorno Karabakh, underlining, that Ankara does not recognize the
independence of Nagorno-Karabakh, neither the "referendum" nor its
outcome, The New Anatolian reports.

It’s worth reminding that in the Constitutional referendum in Karabakh
took part over 98 % of voters.

The Organic Law, adopted in the referendum defines the NKR as a
sovereign and independent state.

AMERICAN SENATORS INSIST ON NEW CANDIDACY FOR AMBASSADOR IN ARMENIA

PanARMENIAN.Net
12.12.2006 16:28 GMT+04:00

/PanARMENIAN.Net/ Senators Harry Reid (D-NV) and Bob Menendez (D-NJ)
today called on President George W. Bush to propose a new candidacy
to serve as US Ambassador in Armenia instead of Richard Hoagland,
who was blocked by the US Senate, reported the Armenian National
Committee of America (ANCA). Senators Menendez and Reid, citing the
growing Hoagland controversy, recommended, in a December 1, 2006
letter to Secretary of State Condoleezza Rice, that the best way to
move this process forward would be for "the President to withdraw his
nomination of Richard Hoagland as U.S. Ambassador to Armenia and to
propose a new candidate to serve in this important position."

In their words, the tough stand of the Armenian community in the USA
against Hoagland’s designation will serve United State’s national
interests.

"Armenian Americans welcome the principled stand taken today by
Senators Menendez and Reid in defense of our nation’s fundamental
commitment to recognizing, preventing and punishing genocide," said
ANCA Chairman Ken Hachikian. "We deeply appreciate their leadership
and value their understanding of the simple truth that a denier of
the Armenian Genocide cannot effectively promote U.S. interests or
American values in Armenia – a country that rose from the ashes of
Turkey’s brutal campaign of extermination and exile." He said.

It is worth mentioning that the new Congress of the USA begins its
work in January. In the new Congress the majority belongs to Democrats,
who are against George Bush’s policy in denying the Armenian Genocide.

According to the US Constitution, the president can either present
a new candidacy or again offer Richard Hoagland’s candidacy. He also
can seize the opportunity of break in Congress’ works and designate
the Ambassador in Armenia without confirmation in Senate. In this
case the senators will no have veto power.

ARMENIAN AND GREECE DEFENSE MINISTERS DISCUSSED BILATERAL COOPERATION ISSUES

PanARMENIAN.Net
12.12.2006 17:34 GMT+04:00

/PanARMENIAN.Net/ Today Secretary National Security Council under
the President of the RA Serge Sargsyan met with Greece Defense
Minister Evangelos Meimarakis in "Zvartnots" airport. Meimarakis
with a transit flight Greece-Armenia was heading to Afghanistan
to meet with the personnel of Greek peacekeeping battalion,
Spokesperson for the Armenian MOD Head, Col. Seyran Shahsuvaryan told
PanARMENIAN.Net. During the brief conversation two ministers discussed
a number of issues concerning Armenian-Greek military cooperation
and the Armenian peacekeepers, who carry out their mission in Greek
battalion.

KRYLOV: KARABAKH’S ABSENCE IN NEGOTIATIONS IS QUITE NONSENSE

PanARMENIAN.Net
12.12.2006 17:48 GMT+04:00

/PanARMENIAN.Net/ The Nagorno Karabakh conflict will not be settled in
the near future, and the inclusion of Nagorno Karabakh in Azerbaijan
is unlikely to happen, we can say that it is quite impossible, stated
observer Alexander Krylov, a political scientist from the Institute
of World Economy and International Relations of Russian Academy of
Sciences. In his words, the current efforts of international mediators
are doomed to failure since they do not take into account the will
and mood of Nagorno Karabakh people in proper way. Krylov thinks
that the greater problem is in the current format of negotiation
process, where the Nagorno Karabakh does not take part, "and this is
quite a nonsense." "without Karabakh’s immediate participation in the
negotiations the final settlement of the conflict is impossible. When
Nagorno Karabakh returns to the peace talks, then we can speak about
real progress," the Russian political scientist stressed, reports
‘Novosti Armenia’.

From: Emil Lazarian | Ararat NewsPress

EAFJD: EU SHOULD ADOPT TOUGHER RESOLUTION ON TURKEY

PanARMENIAN.Net
12.12.2006 17:56 GMT+04:00

/PanARMENIAN.Net/ The European Armenian Federation (EAFJD) says that
European Union Foreign Ministers’ decision to partially freeze the
negotiations with Turkey should be tougher. "The Armenian lobby
organization is sure that Turkey must be punished both for Human
Rights violations, and for treatment with ethnic minority groups,
blockade of Armenian-Turkish border and the Armenian Genocide denial,"
says the statement, provided by AP. In her part, the head of European
Armenian Federation Hilda Tchoboyan underlined that EU member states’
decision complicated the relations with Turkey, reports RFL/RL.

DURING THREE YEARS TURKEY-EU NEGOTIATIONS WILL UNDERGO ANNUAL EXAMINATION

PanARMENIAN.Net
12.12.2006 18:11 GMT+04:00

/PanARMENIAN.Net/ EU partially freezes negotiations with
Turkey. Besides EU Foreign Ministers’ decision about halting the
negotiations with Ankara on 8 of 35 subjects, also an agreement was
adopted to expose to annual examination the process of talks during
the upcoming three years. According to some representatives of European
countries, the partial delay of negotiations on Turkey’s bid to enter
the European Union is unacceptable. They say, that the talks should
be frozen only on 8 of 35 subjects. The other part of states, at the
head of the Netherlands and Greece, insisted on tougher measures and
wanted to halt the talks on 10 subjects.

Dutch Foreign Minister Bernd Bot thinks that Turkey should begin
the fulfillment of Customs protocol directions. In his part the
Foreign Minister of Luxembourg Jean Asselborn warned the EU of
open dispute with Turkey. He thinks, that Europe should not permit
one more strained summit as in 2004. "I think, the current debates
concern not only Turkey, but also the trustful attitude towards the
EU. We should show that the European Union is not only a community of
national interests. It is very important for us how we are accepted,"
reports Deutsche Welle.