Armeconombank Joins Global Trade Finance Program

ARMECONOMBANK JOINS GLOBAL TRADE FINANCE PROGRAM

YEREVAN, MAY 29, NOYAN TAPAN. Armeconombank has become the first
Armenian bank to join the Global Trade Finance Program implemented by
the International Finance Corporation (IFC). The agreement on trade
facilitation was signed on May 29. During a press conference following
the signing ceremony, IFC’s Director of the Central and Eastern Europe
Department Edward Nassim said that the IFC will open a credit line of
1 mln USD for a year for Armeconombank. According to him, the program
will encourage development of hundreds of small businesses. In the
words of Armeconmbank’s Chief Executive Officer Ashot Osipyan, the
program will promote foreign trade activities of Armenian businessmen,
allowing them to use such financial instruments abroad as accreditives
and guarantees. He said that the bank attaches great importance to
cooperation with the IFC. The IFC, the private sector arm of the World
Bank Group, provides technical assistance along with financial
resources. He noted that the IFC will allocate credit resources at
quite low interest rates of 6-9%. To recap, in 2004, a 2 mln-dollar
agreement was signed between the IFC and Armeconombank, under which
1.5 mln USD will was allocated for small and medium business
development, and 0.5 mln USD – for mortgage crediting.

Armeconombank First Armenian Bank to Receive Convertible Loan

ARMECONOMBANK TO BECOME FIRST ARMENIAN BANK TO RECEIVE CONVERTABLE LOAN

YEREVAN, MAY 29, NOYAN TAPAN. Armeconombank and the International
Finance Corporation (IFC) on May 29 signed a memorandum of intentions
on implementation of two new programs. Armeconombank’s Chief Executive
Officer Ashot Osipyan told reporters that under the first program, the
bank will receive 2 mln USD for 8 years, 1 mln USD of which will be
used for small and medium business crediting, while another 1 mln USD
– for mortgage crediting. According to A. Osipyan, the second program
envisages that the IFC will allocate Armeconombank a so-called
convertable loan of 2 mln USD. This a a new instrument for Armenia: it
allows the creditor to have its stake in Armeconombank’s capital. The
bank may also give its shares to the IFC against all or any part of
this 2 mln-dollar loan. Armeconombank currently ranks 5th among the
Armenian banks by its assets amounting to 77 mln USD. The bank’s net
capital makes a sum equivalent to about 12 mln USD.

IFC to Give Loan to SIL Concern for Reconstruction of Ayrarat Cinema

IFC TO GIVE LOAN TO SIL CONCERN FOR RECONSTRUCTION OF AYRARAT CINEMA

YEREVAN, MAY 29, NOYAN TAPAN. The Ayrarat Cinema will be turned into a
trade and recreational center with trade and cinema hall, cafes,
etc. Executive Director of SIL Concern Arman Zargarian said at the May
29 press conference that the total cost of the reconstruction will
make 12 mln USD, with 5.2 mln USD of this sum to be provided as a loan
by the International Finance Corporation (IFC) of the World Bank. The
Ayrarat Cinema (formerly the Rossia Cinema) located in downtown
Yerevan is currently used as a fair. According to IMC Armenian Office
Director Nerses Karamanukian, the loan is repayable over 10 years,
while the construction work will last 4 years in the maximum. He said
that athough the fair will not stop functioning during the project’s
implementation, some new modern buildings will be constructed in its
place. It was pointed out that the exterior of the cinema will remain
the same. The archtectural work is being done by Hrachia Poghosian,
who was one of the architects of the Rossia Cinema.

Spring Sowing Proceeds Slowly in Syunik Due to Unfavorable Weather

SPRING SOWING PROCEEDS SLOWLY IN SYUNIK BECAUSE OF UNFAVORABLE WEATHER

KAPAN, MAY 29, NOYAN TAPAN. As of May 26, spring sowing work was done
on 5.8 thousand ha out of the planned area of 7-8 thousand ha in
Syunik marz (3.4 thousand ha was sown with grain crops). Deputy head
of the agriculture and nature protection department of the regional
administration Vahram Avanesian told NT correspondent that the work is
proceeding slowly due to unfavorable weather. It was noted that
although the number of rodents has considerably declined in
agricultural zones of the marz in recent years, the local farms will
be allocated chemical pest-killers. However, weeds have grown in the
areas under crops because of high humidity this year, which will also
hinder the work. At the same time, according to V. Avanesian, the
Armenian government has supplied the marz with 19 thousand tons of
nitric fertilizer at low prices. The process of transporting the
fertilizer to the marz and its distribution has entered its final
stage.

“Aware and Capable Community” To Continue in Geghargunik Marz

IMPLEMENTATION OF “AWARE AND CAPABLE COMMINITY” TO CONTINUE IN MARZ OF
GEGHARKUNIK

GAVAR, MAY 29, NOYAN TAPAN. The “Aware and Capable Community”
education program was implemented last year in the communities of
Sarukhan and Ljashen of the marz of Gegharkunik by the Finnish
Government’s financing. 130 employees of the local self-government
bodies passed re-training within the framework of the mentioned
program. The 17 thousand evro program was implemented by the “Public
Dialogues’ and Initiatives’ Center” NGO. To get acquainted with
results of the program in the above-mentioned communities, Terhi
Hakala, the Ambassador Extraordinary and Plenipotentiary of Finland to
Armenia visited the marz of Gegharkunik on May 23. The “Aware and
Capable Community” program gave its positive results. I became sure of
it while talking to people,” the Ambassador mentioned. According to
him, the program will implemented in 2006 in a number of other
communities of the marz of Gegharkunik.

Mass Dischargings in Syunik South Branch of “Armentel” Company

MASS DISCHARGINGS IN SYUNIK SOUTH BRANCH OF “ARMENTEL” COMPANY

KAPAN, MAY 29, NOYAN TAPAN. 38 enployees of the Syunik south branch of
the “ArmenTel” CJSC were notified on May 26 that they will be
discharged on May 29. This decision, according to notifactions given
to them, is provided by volumes of the production in the company,
change of conditions of economic, technological and labour
organization. According to Article 116 of the RA Labour Code, in the
case of mass dischargings, the employer is obliged to inform employees
and send a corresponding notification to the RA State Employment
Service not later than 3 months before dissoluting the job
contract. But the Noyan Tapan correspondent was informed by the
Territorial Employment Center that they had not got such a message
from ArmenTel. And the discharged employees, finding that they were
illegally discharged are going to address to the court.
Vladimir Vardanian, the Director of the Syunik marz center of the
company informed the “NT” correspondent that dischargings are again
expected soon, and 180 employees of 333 ones of the marz service will
not lose their jobs.
According to him, “stations are being made digital, and keeping so
many vacancies becomes needless.”

UCLA AEF Armenian History Chair Conference October 28/29

PRESS RELEASE
UCLA AEF Chair in Armenian History
Contact: Prof. Richard Hovannisian
Tel: 310-825-3375
Email: [email protected]
1. THE NEXT UCLA AEF CHAIR CONFERENCE, OCTOBER 28-29, 2006
“The Ebb and Flow of Armenians in India and Southeast Asia –Traders,
Merchants, Intellectuals, and Communities.”
Several additional scholars may be included in the program. Interested
scholars should submit a one-page abstract by July 1 to
Prof. RG Hovannisian at “[email protected]”
2. A description of the program in the Writers Union of Armenia on the
occasion of the translation into Armenian of volume I of Richard
Hovannisian’s “Republic of Armenia” may be found on the web site
, along with other news of interest.
3. Attached is a report on the the recent UCLA conference on “Armenia:
Challenges of Sustainable Development,” dedicated to renowned UCLA
economic theorist Armen Alchian.

www.ACNIS.am

Azerbaijan ‘flattened’ sacred Armenian site

The Independent
Azerbaijan ‘flattened’ sacred Armenian site
By Stephen Castle in Brussels
Published: 30 May 2006
Fears that Azerbaijan has systematically destroyed hundreds of
500-year-old Christian artefacts have exploded into a diplomatic row,
after Euro MPs were barred from inspecting an ancient Armenian burial site.
The predominantly Muslim country’s government has been accused of
“flagrant vandalism” similar to the Taliban’s demolition of the Bamiyan
Buddhas in Afghanistan.
The claims centre on the fate of rare “khachkars”, stone crosses carved
with intricate floral designs, at the burial ground of Djulfa in the
Nakhichevan region of Azerbaijan, an enclave separated from the rest of
the country by Armenia.
The works – some of the most important examples of Armenian heritage –
are said to have been smashed with sledgehammers last December as the
site was concreted over.
The Azerbaijan government, which denies the claims, is now at the centre
of a row with MEPs, some of whom it accused of a “biased and hysterical
approach”. Its ambassador to the EU also says the European Parliament
has ignored damage to Muslim sites in Armenia. Azerbaijan has refused to
allow a delegation of Euro MPs permission to visit the 1,500-year-old
Djulfa cemetery during their trip to the region last month.
Most of original 10,000 khachkars, most of which date from the 15th and
16th century, were destroyed by the early 20th century, leaving probably
fewer than 3,000 by the late 1970s.
According to the International Council on Monuments and Sites (Icomos),
the Azerbaijan government removed 800 khachkars in 1998. Though the
destruction was halted following protests from Unesco, it resumed four
years later. By January 2003 “the 1,500-year-old cemetery had completely
been flattened,” Icomos says.
Witnesses, quoted in the Armenian press, say the final round of
vandalism was unleashed in December last year by Azerbaijani soldiers
wielding sledgehammers.
The president of Icomos, Michael Petzet, said: “Now that all traces of
this highly important historic site seem to have been extinguished all
we can do is mourn the loss and protest against this totally senseless
destruction.”
Some MEPs believe that, boosted by its oil revenues, Azerbaijan is
adopting an increasingly assertive stance in the region. Charles
Tannock, Conservative foreign affairs spokesman in the European
parliament, argued: “This is very similar to the Buddha statues
destroyed by the Taliban. They have concreted the area over and turned
it into a military camp. If they have nothing to hide then we should be
allowed to inspect the terrain.”
When MEPs passed a critical resolution in February, Azerbaijan’s Foreign
Minister, Elmar Mammadyarov, made a formal protest. Then, when the
parliament’s delegation for relations with Armenia, Azerbaijan and
Georgia, asked to combine a mission to Armenia with a visit to the
Djulfa archaeological site, their request was refused.
The Council of Europe’s Parliamentary Assembly hopes to visit the site
and its secretary general has offered to set up an expert group to
examine cultural sites in Azerbaijan and Armenia. MEPs insist that the
authorities in Azerbaijan should open their doors if they have nothing
to hide.
Hannes Swoboda, an Austrian socialist MEP and member of the committee
barred from examining the site, said he hopes a visit can be arranged in
the autumn. He added: “If they do not allow us to go, we have a clear
hint that something bad has happened. If something is hidden we want to
ask why. It can only be because some of the allegations are true.”
And he warned: “One of the major elements of any country that wants to
come close to Europe is that the cultural heritage of neighbours is
respected.”

MIKA celebrate their Armenian Cup success

MIKA celebrate their Armenian Cup success (Hakber)MIKA
add to cup collection
Monday, 29 May 2006
FC MIKA have won the first Armenian Super Cup in their
history after beating league champions FC Pyunik 3-2
at the Republican stadium in Yerevan.
Decisive contribution
Armen Shahgeldyan, who scored the only goal in MIKA’s
Armenian Cup final win against Pyunik, opened the
scoring for MIKA after 17 minutes and then set up his
side’s second six minutes later, providing the pass
for Vardan Hovhannisyan to drive the ball into the net
from 18 metres.
Third time lucky
Agvan Lazarian pulled a goal back for Pyunik before
Shahgeldyan won and converted a penalty in the second
half to put the game out of Pyunik’s reach. Levon
Pachadzhan scored again for Pyunik but they could not
complete a comeback leaving MIKA to celebrate their
first Super Cup win in three attempts.

Russian Foreign Minister to Discuss Regional Issues in Ankara

PanARMENIAN.Net
Russian Foreign Minister to Discuss Regional Issues in Ankara

29.05.2006 16:28 GMT+04:00

/PanARMENIAN.Net/ The relations with Turkey are important for Russia’s
foreign policy, RF MFA formal representative Mikhail Kamynin said when
commenting of the upcoming visit of the Russian Foreign Minister to
Turkey. In his words, during the visit (May 31-June 1) Sergey Lavrov
is going to discuss a scope of issues referring to the Russian-Turkish
cooperation including the preparation for the visit of Turkish
President Ahmed Necet Sezer to Moscow. `Lavrov’s visit will offer the
possibility to check the whole range of bilateral relations and urgent
international and regional matters before the Turkish President’s
call,’ the Russian diplomat said.
The Russian FM is scheduled to visit with his Turkish counterpart,
President Sezer, Prime Minister Recep Tayyip Erdogan and the
parliament leaders. Lavrov will also visit Istanbul-base headquarters
of the Black Sea Economic Cooperation Organization to discuss the
activities of BlackSeaFore naval group and the possibility of Russia’s
joining the Black Sea Harmony operation.
Kamynin also informed that the Iraqi and Near East settlement, the
Iranian nuclear program, the situation in the Transcaucasus and
Central Asia as well as the Cypriot problem will be addressed,
reported RIA Novosti.