ArmInfo.The activities of the Armenia's National Interests Fund (ANIF) will become more flexible.
At the meeting on September 3, the RA government introduced some regulations to the rules in the activities of the Fund.
According to the Minister of Economy of the Republic of Armenia Tigran Khachatryan, until today the government had the right to participate in investment programs worth at least $ 1 million and not more than $ 2 million. However, negotiations between fund managers and private business representatives showed the need to make adjustments to these indicators.
In particular, the fund manager will be provided with more opportunities, and instead of the target of $ 1- 2 million, the volume of government participation in investment programs will be set in the range from $ 500 thousand to $ 4 million.
In addition, the Fund will receive the right to participate in investment projects already underway. The Fund was previously deprived of this right, being focused only on new programs.
At the same time, two restrictions will still apply. In particular, the minimum assets of an investor must be equal to the amount of state participation. In addition, these assets should not be overloaded with liabilities against third parties. The state's participation in the fund will be limited to 10 years, of which five years provide for active investments, and the next five years - the return of the state's share. There must also be a minimum of 8% return on government investment. Investments can be carried out in parts - at least 100 thousand dollars, but not less than 25% of the declared investment volumes from the state. Deputy Prime Minister Tigran Avinyan recalled that at a meeting on May 21, 2020, the government announced the launch of a new program, which is aimed at ensuring long-term economic development. In fact, this program is the most ambitious program to neutralize the economic consequences of the coronavirus. In particular, the matter concerns the promotion of investments in the amount of up to 50 billion drams. We are talking about those companies that encountered problems when starting their investment programs. The state finances 25% of these programs, the same amount from the investor and 50% from the financial structure represented by the State Interests Fund.
