SaturdayJanuary 31
  • USD 476.74
  • EUR 539.38
  • RUB 6.83

Armenian IT field to receive $24 million loans

00:12, 01.07.2012 Region: Armenia Theme: Economics, Analytics

YEREVAN. – The World Bank (WB) will grant $24 million loans to use it for the Armenian IT field, Armenian Minister of Economy Tigran Davtyan said at a meeting in Armenian City of Aghveran. The loan has already been confirmed by the WB.

According to the Minister, it is the second loan for the IT field. The first loan in the amount of $5 million has mainly served for the establishment of the Enterprise Incubator Foundation.

Davtyan also presented other sources of financing, except for loans. The field received $80 million annually from exhibitions, information materials, conference organization and participation.

Besides, over $170 million is granted to Gyumri city techno-park. Moreover, tourism and IT get direct investments from the state budget.USAID also makes investments.

Armenia News -

More in topic

Armenia imports 147,000 pairs of cheap shoes from Turkey

In the first quarter of this year…

IMF reduces economic growth forecast for Armenia

The forecast is conditioned by deteriorating economic situation in Russia...

Committee head: New pension law will change the entire system

The final version of the law is not ready yet...

There is no real step showing any positive change – New Times party of Armenia

The country’s economy can change and develop solely through systemic changes…

Partner news