VOLUME OF AGRICULTURAL LOANS DOUBLES IN GEGHARKUNIK MARZ

Noyan Tapan
Mar 13 2006

GEGHARKUNIK, MARCH 13, NOYAN TAPAN. The volume of agricultural loans
has doubled in Gegharkunik marz. Andranik Hakobian, Director of ACBA
Bank Gegharkunik Branch, told NT correspondent that in 2004, credits
of the total amount of 1.8 mln USD were provided to 1,400 borrowers,
whereas these indices made 3.7 mln USD and 3,360 borrowers last
year. According to A. Hakobian, small farmers that take loans of up
to 3,000 USD make up 60% of the borrowers. About 20% use loans of up
to 30 thousand USD, and several big farms – up to 150 thousand USD. It
was noted that now all the communities of Gegharkunik marz make use of
the credit services of ACBA Bank, with 100% of the loans being repaid.

The total amount of farm crediting is expected to reach 5 mln USD
this year.

ADA EXPECTS TO RECEIVE CREDITS OF 2 MLN USD FROM WORLD BANK FOR SECOND PROGRAM ON DEVELOPMEMT OF ITS CAPACITIES

Noyan Tapan
Mar 13 2006

YEREVAN, MARCH 13, NOYAN TAPAN. At the March 10 sitting of the Armenian
Development Agency (ADA) Board, the draft second credit program on
development of the ADA Foreign Investment and Export Facilitation
(FIEF) capacities with World Bank (WB) resources was approved. ADA
Director General Vahagn Movsisian announced it at the March 11
press conference. According to him, the cost of this program to be
implemented in 2006-2009 will make 2 mln USD. It was noted that the
World Bank recognized the first 3-year credit program on development
of the ADA FIEF capacities as the best implemented program. During
the implementation of this program in 2003-2005, the WB allocated
credit resources of 1 mln USD to the agency. V. Movsisian said
that the spheres of high technologies, information technologies,
fine organic chemistry, exact architecture and biotechnologies, in
which intellectual work accounts for large part of production cost,
were selected as spheres for investment making within the program’s
framework in 2003. Database on possible 7 thousand investors was
created during the program. Information propaganda campaigns were
conducted in the US and European countries, now the second campaign
in the US, as well as propaganda campaigns in the Scandinavian and
Far East countries are underway.

According to the ADA Director General, in the course of these
propaganda campaigns, 30 companies either made investments in Armenia
or expressed an intention to do so. Among these comanies are Microsoft,
Sonix, IBM and Erikson, as well as the German airline Lufthanza. The
ADA created a website with the list of
5 thousand combinations developed in the country for the purpose of
attracting investments to the sphere of fine chemistry in Armenia. This
website, as well as presentation of the Armenian fine chemistry’s
potential in various countries contributed to the fact that the the
eneterprises of the sphere have received orders for synthesis of
500 combinations.

Representatives of 32 foreign companies will visit Armenia in 2006 in
order to become acquainted with the investment opportunities in fine
organic chemistry and biotechnologies spheres of Armenia. According
to V. Movsisian, as a result of developing the ADA capacities,
175 companies were set up in Armenia with foreign capital in
2003-2005 through the agency. Prior to launching the WB program,
the ADA received an average of 300 visitors annually, whereas in
2005 this index increased to 1,350. In the period of 2003-2005,
the ADA organized 40 exhibitions and 32 business forums.

GROWTH IN GAS PRICE TO RAISE BUSINESS COST PRICE IN ARMENIA

Noyan Tapan
Mar 13 2006

YEREVAN, MARCH 13, NOYAN TAPAN. RA Ministry of Trade and Economic
Development is studying the possibilities of mitigating the
consequences of growth in price for gas supplied for Armenian
economy. Director General of the Armenian Development Agency
Vahagn Movsisian informed about this at the March 11 press
conference. According to him, the growth in price for gas supplied
to Armenia will raise the cost price of business run in Armenia.

ARMENIAN DEVELOPMENT AGENCY THE 5TH AMONG SIMILAR STRUCTURES OF 147 COUNTRIES BY QUALITY OF RENDERING SERVICES

Noyan Tapan
Mar 13 2006

YEREVAN, MARCH 13, NOYAN TAPAN. On March 9, in Geneva, a representative
of Armenia was given the prize won by the Armenian Development
Agency by the results of the 2005 study conducted by the World
Bank’s Multilateral Investments Guaranteeing Agency (MIGA). Armenian
Development Agency Director General Vahagn Movsisian informed about
this at the March 11 press conference. He reminded that according to
MIGA report of 2005, the Armenian Development Agency was recognized
the 5th among 147 agencies of the world by the quality of rendered
services. MIGA’s study was conducted, in particular, according to
standards of answering questions, preparing for exhibitions and
business forums.

M.Movsisian informed that MIGA delegation’s visit to Armenia is
expected in late March. Issues of cooperation with the Armenian
Development Agency will be discussed during the visit.

AS ADA DIRECTOR ESTIMATES, DIASPORAN ARMENIANS’ INVESTMENT ACTIVITY IN ARMENIA IS UNSATISFACTORY

Noyan Tapan
Armenians Today
Mar 13 2006

YEREVAN, MARCH 13, NOYAN TAPAN – ARMENIANS TODAY. Armenian Development
Agency Director General Vahagn Movsisian estimated the Diasporan
Armenians’ investment activity in Armenia as unsatisfactory at the
March 11 press conference.

According to his information, 6 mln Diasporan Armenians live abroad
in about 1.5 mln families, the property of each of them can amount to
100 thousand USD. “We have an investments source valued 150 bln USD,
and even 2-3% of this isn’t used,” V.Movsisian said. According to
him, 300-400 big entrepreneurs having no bisiness connection with
Armenia work in big foreign cities. For the purpose of promoting
their investment activity and export of Armenian production by means
of them it’s envisaged to organize 13 agitation campaigns in foreign
countries. Touching upon the issue of efficiency of Armenia-Diaspora
first economic forum held in 2003 autumn, V.Movsisian said that a
Pan-Armenian Commercial Network was established after the forum. An
attempt to provide constant information for all organizations of
Diasporan Armenian businessmen is made through the network. Canadian
and Iranian Armenian businessmen’s delegations visited Armenia after
the forum. 4 companies were founded in Armenia, the Iranian Armenians’
investment activity became rather active as a result of the Canadian
Armenian businessmen’s visit. Besides, a delegation of 15 Argentine
Armenian businessmen will visit Armenia in late April this year for
the purpose of discussing issues connected with making insvestments
in spheres of tourism, hotel building and agroprocessing. A visit of
80 Lebanese Armenians is expected in June, within the framework of
which a business forum will be organized in Yerevan.

“UNITED TREE PLANTING – 2006” STARTS

Noyan Tapan
Mar 13 2006

KAPAN, MARCH 13, NOYAN TAPAN. On the initiative of the “Nig Aparan”
union and with the participation of other 40 compatriotic unions,
a united tree planting program will be implemented in Armenia
in 2006. This started on March 11 in Meghri. According to Aghvan
Hovsepian, the Chairman of the “Nig Aparan” compatriotic union,
the RA Prosecutor General, it was decided to plant in total 3.2
mln trees, thus ones corresponding to the number of the republic’s
population. “But, I’m sure that we’ll plant more trees this year,” he
stated in the interview to journalists. Tree planting was organized
in Agarak and Kapan as well, and the program will be implemented
later in the regions of Goris and Sisyan, taking into account the
nature-climatic conditions.

250 YEREVAN STREETS TO BE ASPHALTED THIS YEAR

Noyan Tapan
Mar 13 2006

YEREVAN, MARCH 13, NOYAN TAPAN. Irrigation, asphalting works, as
well as reconstruction of street illumination networks have already
started in Yerevan.

As Deputy Yerevan Mayor Vano Vardanian informed at the March 13 press
conference, large-scale asphalting works will start from March 15
in 60 Yerevan streets and by the end of the year it’s envisaged to
implement 600 thousand sq.m.

asphalting and concrete and 235 thousand sq.m. asphalting works in
250 streets. V.Vardanian also said that Grigor Lusavorich, Tigran
Mets, Sarian, Artashisian, and Kievian streets’ borders will be
also repaired. According to V.Vardanian, additional resources were
allocated by Yerevan Mayor’s Office and communities for cleaning
the channels of the Hrazdan, Getar, Vokhchaberd and Jrvezh rivers,
as well as reinforcement of bank barriers. According to the Deputy
Mayor, reinforcement works will be done in 11 tenement-houses of
third degree. It was also mentioned that 9 accident-prone houses
were reinforced in 2005. Touching upon the sanitary cleaning works,
V.Vardanian informed that the number of dustbins will grow by 1800
this year in Yerevan and those placed in Yerevan center will be moved
to yards.

MODERN OUT-PATIENTS’ DEPARTMENTS TO BE BUILT IN THREE RURAL COMMUNITIES OF GEGHARKUNIK MARZ BY WB FINANCING

Noyan Tapan
Mar 13 2006

GEGHARKUNIK, MARCH 13, NOYAN TAPAN. Modern typic out-patients’
departments will be built during this year in the rural communities
of Zolakar, Geghahovit and Yeranos, the marz of Gegharkunik, by the
World Bank financial resources.

Those departments will be provided with newest medical equipment and
transport means. According to data of the Health Care Department
of the Gegharkunik regional administration, 50 thousand dollars
equivalent drams were spent on building and equipment of each of
the medical departments. The construction works will start from
April. Re-training courses for the medical staff of the mentioned
communities will be organized in parallel to implementation of the
program within the framework of the “Family Doctor” program.

“NEW COOPERATION PROSPECTS” TRAINING PROGRAM TO BE HELD ON MARCH 17-19 IN TSAKHKADZOR

Noyan Tapan
Mar 13 2006

YEREVAN, MARCH 13, NOYAN TAPAN. “New Cooperation Prospects” training
program will be held on March 17-19 in Tsakhkadzor with participation
of 18-30-year-old young people. The program is implemented by the
Center for Organization of Youth Events, within the framework of the
“Conference of Youth NGOs” program. As Noyan Tapan was informed by the
Center for Organization of Youth Events of RA Ministry of Culture and
Youth Affairs, subjects regarding youth policy, cooperation between
youth structures and media, information and consultation, working out
and implementation of joint youth programs will be discussed during
the program.

COURSES OF RE-TRAINING OF RA JUDGES START

Noyan Tapan
Mar 13 2006

YEREVAN, MARCH 13, NOYAN TAPAN. The courses of re-training judges
organized by the education center of the Court of Cassations started
on March 13 at the RA Court of Cassations. Those courses will be
continuable. It’s envisaged that each of the 179 judges of Armenia
will participate in the annual courses for 120 hours. Judges of the
RA Courts of Cassations and Appeal as well as local and international
experts will hold the courses. According to the information of the
Press Secretary of RA Court of Cassations, re-training of the RA
courts employees is also envisaged by the 2006 working program of
the educational center.