ArmInfo.The international rating agency Moody's Investors Service confirmed the long-term rating of CJSC "Electric Networks of Armenia" at the BA2 level with a  stable outlook. The rating of the company is unprecedented both for  companies of Armenia and the region.  

ArmInfo. The International Finance Corporation (IFC), the European Bank for Reconstruction and Development (EBRD) and the European Union will become institutional investors in the construction of a solar power plant of industrial  importance "Masrik-1" in Armenia. At the meeting on August 13, the RA  government approved the signing of a letter to a direct contract  between the EBRD and IFC.

ArmInfo.The European Bank for Reconstruction and Development (EBRD) today announced the  completion of its participation in the development of the Amulsar  gold mine, the construction of which has been blocked by  environmental activists and residents of nearby communities for about  two years.

ArmInfo. IFC, a member of the  World Bank Group, is providing a loan of $15 million to Inecobank to  boost lending to Armenia's micro, small, and medium enterprises  (MSMEs), helping them address the challenges triggered by the  COVID-19 outbreak., the press service of IFC reports.  Given the  global pandemic, many MSMEs in Armenia face lower revenues, higher  costs, supply disruptions, and complicated inventory management. As a  result, they need working capital liquidity financing to continue  operating, providing vital employment, goods and services, and  generating tax revenues. IFC's loan to Inecobank, its longstanding  client in Armenia, is part of its $8 billion fast-track financing for  its private sector clients worldwide, to sustain economies and  protect jobs during this unprecedented global crisis. 

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ArmInfo.IFC, a member of the World Bank Group, the  European Bank for Reconstruction and Development (EBRD), and the  European Union (EU) have signed on to support the development of the  first utility-scale solar power plant in Armenia, which is also the  first for the Caucasus. This is stated in the IFC press release  received by ArmInfo. 

ArmInfo. S&P Global Ratings  maintained Ameriabank's credit rating, leaving the forecast  unchanged. As ArmInfo was informed in the press service of the bank,  the long- and short-term credit rating of the issuer represented by  Ameriabank was kept at "B + / B" with the forecast "Stable". It is  worth noting that to this day, S&P has not assigned a country rating  to Armenia.

ArmInfo.IFC, a member of the World Bank Group, is investing €18.5 million in the European Fund for Southeast Europe SA, SICAV-SIF (EFSE). The facility will be used for on-lending to micro, small, and medium enterprises (MSMEs) through banks and microfinance institutions in fourteen European and Central Asian (ECA) countries. EFSE is the largest regional debt facility financing MSMEs in the region.

ArmInfo. <In response to the rapid spread of the COVID-19 pandemic globally, and recently in Armenia, the World Bank is supporting the Government's response to  protect its people amid the coronavirus outbreak>, the official  website of WB in Armenia reports.

ArmInfo. Armenia imposes temporary restrictions on the export of a number of medical products. This is stated on the official page of the Armenian Unified  Infocenter on Facebook.  According to the report, the export of these  types of products may be authorized by the State Revenue Committee on  the basis of the written consent of the Ministry of Health of the  Republic of Armenia. The list of products can be found by clicking on  the following link: https://bit.ly/2QvhaXh

ArmInfo. The European Bank for Reconstruction and Development (EBRD) withdrew from the capital of INECOBANK by selling its share (23,002 shares or 12.6%) to the  majority shareholders Avetis Baloyan and Karen Safaryan. This is  evidenced by the information posted on the website of the Central  Bank of the Republic of Armenia on actual changes in the share  capital of INECOBANK.

ArmInfo. On February 25, Deputy Prime Minister Mher Grigoryan received a delegation led by Regional Vice President of the International Finance Corporation  (IFC) Georgina Baker.

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ArmInfo.Ameriabank CJSC, Armenia’s largest bank, has been named the Best Bank Partner for Equipment Trade in Europe and Central Asia and the Best Issuing Bank in the Caucasus and Central Asia for 2019 by IFC, a member of the World Bank Group. This is the second consecutive time that Ameriabank is receiving the award for Best Issuing Bank in Caucasus and Central Asia.

ArmInfo.  Armenian Deputy  Prime Minister Mher Grigoryan, at a meeting with the Regional  Director of the International Financial Corporation (IFC), Jan van  Bilsen, pointed out the importance of cooperation with the financial  institution, especially in terms of deepening cooperation with the  private sector of Armenia.

ArmInfo. Contour Global Hydro Cascade will make additional AMD 27.5 billion drams investmen in the modernization of its Vorotan Cascade of Hydroelectric Power  Plants in Armenia. At the October 10 meeting, the Government of the  Republic of Armenia approved the company's application for exemption  from customs payments for imported equipment.

ArmInfo.Deputy Minister of  Economy of Armenia Varos Simonyan and Arman Hovnanyan received a  delegation led by Damien Shiels, Head of Consulting Programs for  Europe and Central Asia, International Finance Corporation (IFC - an  international financial institution, part of the World Bank).

ArmInfo.Modernization and compliance with international requirements open new markets for home-grown products

ArmInfo. Jihad Azour, Director of the Middle East and Central Asia (MCD) Department at the International Monetary Fund (IMF), has recently visited Armenia. He is a well-known Lebanese economist and politician, who served as Lebanon’s Minister of Finance under Fouad Saniora’s government from 2005 to 2008, and author of a number of critical reforms in Lebanon's public administration and taxation system.

ArmInfo. Mr. Sebastian Molineus has been appointed World Bank Regional Director for the South Caucasus. In this position, he will replace Mercy Tembon, who held this post from September 2015 to June 2019.