ARKA News Agency, Armenia
March 10 2006
4.3 BILLION EUROS INVESTED BY EBRD IN 2005
YEREVAN, March 10. /ARKA/. European Bank for Reconstruction and
Development invested 4.3 billion euros in 2005under under 151
projects made, the EBRD press service told ARKA News Agency.
According to the press service, this amount exceeds the bank’s
previous investments and targets 27 South-Eastern Europe, Caucasus
and Central Asia countries as well as Russia.
The press release says 2.46bln euros or 58% of total amount of
investments are sent to transition-economy countries (in 2004
1.93bln), 1.12bln euros or 26% were given to Russia (1.24bln euros in
2004) and 699mln euros or 16% to successfully developing transition
countries (in 2004 964mln euros).
The EBRD investments are focused on encouraging market economy in the
region where the bank runs its activity. 85% of the bank’s new
projects were qualified in 2005 as having good and excellent
potential impact, the press release says.
The EBRD attracted 2.6bln euros from commercial banks export credit
organizations and other international financial institutions as
co-financing. Donors gave 75mln euros for preparation and
implementation of projects. The money was also given for
strengthening investment environment.
The EBRD works in 60 countries and 2 non-governmental organizations.
Its activity is focused on promotion of transfer from central
planning to market economy in Eastern and Central Europe and CIS
countries.
Armenia with its share of 10mln euros became EBRD member in 1992.
The bank allocated 39.3mln euros for 24 programs implementation in
Armenia. M.V. -0—

ARKA News Agency, Armenia
March 10 2006
FIRST SESSION OF “UNION OF PARTICIPANTS OF MORTGAGE MARKET OF
ARMENIA” TO TAKE PLACE ON MARCH 17
YEREVAN, March 10. /ARKA/. The first session of the “Union of
Participants of Mortgage Market of Armenia” will take place on March
17. Such decision was made today during the constituent assembly of
the Union in Yerevan.
One of the founders of the Union, Executive Director of the
“Armeconombank” Ashot Osipyan stated that elections of the Executive
Director of the Union will be held during the first session of the
Union as well as structural issues will be discussed.
Besides that, in his words, they intend to discuss the working
program of the activities of the Council of the “Union of
Participants of the Mortgage Market of Armenia”.
The founders and the members of the Union are 8 commercial banks
(“Armeconombank”, “Areksimbank”, “Yunibank”, “Ararat bank”,
“Arminvestbank”, “Armenian Bank for Development”, “Armswissbank”), 4
insurance companies (“Sil Insurance”, “Private Insurance”, “Nairi
Insurance”, “Prime Insurance Brokers”), 2 financial organizations
(universal credit organizations “Washington Capital” and “First
Mortgage Company”) and 4 real estate agencies (“Alta VIP”, “M&M”,
“Premier Realty”, “Elephant Realty”). S.P. –0–

ARKA News Agency, Armenia
March 10 2006
COURT HEARING OF ARMENIAN CEC’s POLICY AT CONSTITUTIONAL REFERENDUM
TO BE HELD ON MARCH 13
YEREVAN, March. 10. /ARKA/. On March 13, 2006, the minor court of
Yerevan’s Kanaker and Nor Nork communities is to hold a hearing of a
claim concerning the inaction of the Central Electoral Commission
(CEC) during the constitutional referendum in Armenia. The Public
Commission formed to supervise the legality of the referendum reports
that about 70 claims lodged by the Commission Coordinator Ruben
Torosyan are to be considered. According to the press-release, the
claims contain the information on violations committed by the RA
President, Vice-Speaker of the RA Parliament, RA Foreign Minister,
Rectors of Armenia’s higher schools, a number of TV companies and the
RA Academy of Sciences.
The constitutional referendum was held in Armenia on November 27,
2005. P.T. -0–

ARKA News Agency, Armenia
March 10 2006
198 PARTICIPANTS REGISTER FOR PARTICIPATION IN THE INTERNATIONAL BANK
CONFERENCE IN ARMENIA
YEREVAN, March 10. /ARKA/. 198 participants, more than half of them
are foreigners, registered for participation in the International
Bank Conference on the subject of foreign commerce financing in
Armenia, according to the Executive Director of “Armeconombank” Ashot
Osipyan.
“We hope that within the framework of this conference rather
interesting discussions will be conducted”, Osipyan stated.
The main themes of the International Bank Conference, on the subject
of foreign commerce financing, which will be held on March 28-30,
2006, are the role of banks and banking instruments for stimulation
of international trade as well as cooperation between banks and
exporters in the sphere of trade financing in Armenia.
Within the framework the conference issues of control over credit
risks, balance of payment of Armenia, evaluation of risk of
documentary operations and development perspectives of the
international trade in Armenia will be discussed.
The main organizers of the conference are EBRD and Armeconombank.
Among media-sponsors of the conference are “ARKA” Armenian News
Agency, “Armnews” TV-channel and “Republic of Armenia” newspaper.
S.P. –0–

ARKA News Agency, Armenia
March 10 2006
ARMENIA, “MILLENNIUM CHALLENGES” CORPORATION TO SIGN $235.6MLN
AGREEMENT ON MARCH 27
YEREVAN, March 10. /ARKA/. An agreement between Armenia and the
“Millennium Challenges” corporation is to be signed in Washington,
USA, on March 27, 2006.
The press service of the RA Ministry of Finance and Economy reports
that the $235.6mln 5-year agreement is to be signed by RA Minister of
Finance and Economy Vardan Khachatryan and Director of the
corporation John Danilovich.
US Secretary of State Condoleezza Rice is to attend the signing the
ceremony.
On March 10, 2006, RA Prime Minister Andranik Margaryan made a
decision under which an Armenian delegation headed by the RA Minister
of Finance and Economy is to leave for Washington on May 25-30 to
sign the agreement.
The Armenian delegation is to include Chief Presidential Economic
Advisor Vahram Nersisyants, RA Foreign Minister Vardan Oskanyan. The
Armenian program “Millennium Challneges” was prepared by an
interagency group chaired by the RA Minister of Finance and Economy
under the patronage of the trustees of the Armenian program of the
“Millennium Challenges” corporation headed by the RA Premier.
The goal of the program is rural poverty reduction through ensuring a
stable increase in agricultural output. P.T. -0–

ARKA News Agency, Armenia
March 10 2006
RA PRESIDENT GIVES RANK OF EXTRAORDINARY ENVOY AND PLENIPOTENTIARY
MINISTER TO THE ARMENIAN AMBASSADOR IN ARGENTINE
YEREVAN, March 10. /ARKA/. The RA President Robert Kocharyan gave
diplomatic rank of extraordinary envoy and plenipotentiary minister
to the Armenian Ambassador extraordinary and plenipotentiary in
Argentine Vladimir Karmirshalyan. According to the Press Service of
the RA President, Kocharyan signed the corresponding decree on March
10.
Vladimir Karmirshalyan was appointed Armenian Ambassador
extraordinary and plenipotentiary in Argentine (residence is in
Buenos-Aires) by the RA President’s decree on February 18, 2006.
Before the appointment Karmirshalyan was Armenian Ambassador
extraordinary and plenipotentiary in Dania, Sweden, Norway and
Finland. S.P. –0–

“POET’S RETURN” FILM OF HAROUTIUN KHACHATRIAN TO PARTICIPATE IN
COMPETITION PROGRAM
YEREVAN, MARCH 10, NOYAN TAPAN – ARMENIANS TODAY. Film director
Haroutiun Khachatrian’s “Poet’s Return” film will be shown on March
15-20 in three cities of Belgium: Antwerp, Ghent, Anderlecht, where at
the same time lectures and meetings will be held. As the Noyan Tapan
correspondent was informed by the “Golden Apricot” (Voske Tsiran)
festival office, the film will also participate in the competition
program of the Italian “Infinity” festival to take place from March 30
to April 7. Later, from June 30 to July 8, the “Poet’s Return” film
will participate in the competition program of the Karlovy Vary
International Film Festival to take place in Czechia as well.
Haroutiun Khachatrian’s previous, the “The Documentarist” film was
awarded special prize in the same festival. Retrospective show of
Haroutiun Khachatrian’s films will be held in the cinematheque of
Slovenia on May 26-30. The director’s five films:
“Kond,” “White City,” “Return to the Promised Land,” “The
Documentarist” and “Poet’s Return” will be shown. It’s envisaged to
organize similar retrospective shows in the cinematheques of Uruguay
and Argentina as well. Retrospective shows of films of four directors
of the Armenian origin: Sergey Parajanov, Artavazd Peleshian, Atom
Egoyan and Haroutiun Khachatrian will take place in cinematheque of
Holland in autumn.

“MILITARY SUCCESS NECESSARY TO STRENGTHEN BY POLITICAL SUCCESS,” BABKEN
ARARKTSIAN SAYS

YEREVAN, MARCH 10, NOYAN TAPAN. The peaceful process of the Karabakh
conflict settlement entered deadlock. Babken Ararktsian, the former
Speaker of the Armenian Parliament (1991-1998), the Chairman of the
“Armat” (root) organization stated about this at the meeting taken
place on March 10 at the National Press Club.
According to him, in the Karabakh problem the authorities of Armenia
had a goal to prolong the negotiations anyway, thus, to keep the
created status-quo, and in the case of fail of the negotiations, to
use tone of an ultimatum and state that Armenia will recognize the
Republic of Nagorno Karabakh.
Babken Ararktsian excluded the possibility of the international
pressure both on Armenia and on Azerbaijan: “They’ll put pressure if
they are interested, but this issue isn’t their one, and they want the
conflict sides to solve the issue.”
According to Ararktsian, the time works for Azerbaijan which actively
uses all its possibilities in different international instances and
initiates adoption of a number of new documents, which, like the new
“terms about the aggressor and the occupied territories,” are spread
in international spheres.
He expressed confidence that it’s necessary to strengthen the military
success by political success what wasn’t implemented, and the role and
influence of military successes weaken during the time.
Babken Ararktsian attached special importance to the participation of
Nagorno Karabakh in the negotiation process.

ARMENTEL FINED IN AMOUNT OF 1% OF ITS REVENUES RECEIVED IN 2005 FROM
MOBILE PHONE COMMUNICATION SERVICES

YEREVAN, MARCH 10, NOYAN TAPAN. ArmenTel company, which has monopoly
on fixed line phone communication, has set such conditions, as a
result of which K-Telecom – its competitor in the mobile phone
communication sector – has found itseld in unequal conditions. This
was the conclusion of the RA State Commission on Protection of
Economic Competition, which on March 10 examined the complaint of
K-Telecom (VivaCell) company against ArmenTel company.
It is noted in the commission’s conclusion that ArmenTel offered a
discount, including for calls made to fixed-line phones, for a certain
group of its mobile phone contract system’s subscribers. K-Telecom,
for whose subscribers the commutation payment is higher, has no
opportunity to offer such discounts to its subscribers. As a result,
according to the commission, some discriminatory conditiones were
created between ArmenTel and K-Telecom companies.
Qualifying ArmenTel’s actions as abuse of its dominating position, the
commission made a decision to fine ArmenTel in the amount of 1% of the
revenues that the company received for providing mobile phone
communication services in 2005. The commission obliged ArmenTel to
ensure such conditions, under which its rival would be able to use
similar discounts.
In response to a question asked by NT correspondent, the commission
chairman Ashot Shahnazarian said that the commission does not know the
amount of ArmenTel’s reveues against mobile phone communication
services in 2005, and it will take into account the information to be
provided by the company itself.
From: Emil Lazarian | Ararat NewsPress

CREMATORY IS REFUSABLE FOR ARMENIAN APOSTOLIC CHURCH, PRIEST TER HAKOB
KHACHATRIAN STATES

YEREVAN, MARCH 9, NOYAN TAPAN. Crematory is refusable for the Armenian
Apostolic Church, this is inadmissible from the viewpoint of national
traditional thinking and moral and psychology. Priest Ter Hakob
Khachatrian, spiritual serviceman of the Surb Sargis Church stated
about this at the March 7 discussion organized in the “Hayeli”
club. According to him, crematory is impossible for an Armenian’s
thinking and Armenia usually don’t make use of this service in those
countries where it’s a normal event. According to the priest, it’s a
law defined by the God: “you’re land and will become land.”
To recap, the article concerning the crematory is fixed in the
Febraury 27 law “On Organizing Burials and Usage of Graveyards and
Crematoria” adopted by the RA National Assembly.
NA Deputy Vladimir Badalian, the author of the law, mentioned that the
city of Yerevan is surrounded by graveyards which occupy the 7-8% of
the territory of the capital. And, according to rough calculations,
those territories will make the 30-40% in 2050 in the case of keeping
the present order of burials.
Reasoning the necessity of using crematory, V.Badalian mentioned that
crematory is justified in sanitary-epidemic, ecological and other
senses. Besides, according to the law, crematory may be implemented
only “with the written expression of the will of the man died or those
undretaken the burial.” The Deputy also mentioned that crematories
will start to operate in Armenia from 2008.
Responding the law author’s reasonings, priest Ter Hakob Khachatrian
expressed confidence that the lands may be kept by implementing burial
on another grave what is allowed by the same law. Besides, according
to him, it may be prohibited to build capital constructions on
graves. “In this case, on the one hand, our lands will be kept and on
the other hand, our national and Christian picture won’t be
distorted,” priest Ter Hakob Khachatrian mentioned.
From: Emil Lazarian | Ararat NewsPress