IFC ready to participate in reforms in Armenia 

ArmInfo.The International Finance Corporation (IFC) is discussing the formats of its possible participation in the reforms planned by Armenia`s government, IFC  Regional Manager Ivana Fernandes Duarte stated at her meeting with  Armenia`s Minister of Finance Tigran Khachatryan.

Mrs Duarte noted it is her first visit to Armenia as IFC Regional  Manager. She stressed the importance of cooperation with Armenia`s  government. She noted the IFC is giving priority to the steps toward  simplifying the financial and energy sectors, as well as the  investment environment in Armenia.  Minister Khachatryan appreciated  the IFC`s involvement in the investment projects in Armenia. Among  the primary fields he singled out capital market development, the  private sector`s projects, alternative energy, cooperation between  the private and government sectors, small med medium-sized business  development and high technologies.   

The sides discussed a wide range of issues of ongoing cooperation  between the Armenian government and IFC, as well as cooperation  prospects. 

The IFC has invested a total of $700mln in Armenia`s economy -  primarily in the energy and financial sectors, real estate and small-  and medium-sized businesses. For years the IFC has actively been  supporting two major sectors of Armenia`s economy - the financial and  energy sectors. In the latter case, the IFC funded the privatization  of the Vorotan  hydro-power station in 2016, renovation of the  Yerevan thermal power plant and Masrik Solar solar station.