Investment
State of Georgian debt is over $546 million.
State of Georgian debt is over $546 million. Georgia's external debt to 17 countries is $546.7 million, including $17 million to Azerbaijan. The biggest public credits are those from Germany - $189.7 million, Russia - $117.4 million, Japan - $55.8 million, the USA - $36.8 million, Turkey - $32.9 million, reports PanARMENIAN.Net.In addition Georgia has been given credit by international institutions, amounting to $2532.2 million. At present Georgia's external government debt is $3583.5 million.Azerbaijan receives credit from the World Ba
The World Bank and the Azerbaijani Ministry of Transport have signed a credit agreement to enlarge the Baku-Shamahi-Mugan road. The World Bank is loaning $241.6 million, reports Trend.101 kilometres of the 122 kilometre-long road is planned to be rebuilt with the credit. The main aim in reconstructing the road is to double its width.11.08.2010The European Bank will invest in the modernization of the Yerevan underground
5 million euros will be made available to renovate the Yerevan underground train system, due to a credit agreement between Yerevan and the European Bank for Reconstruction and Development (EBRD) reports News.am. In total the project will cost 15 million euros.Apart from the EBRD, 5 million will be given by the European Commission as a grant and from the European Investment Bank as a credit. The rate of interest is 1 % over the base rate.Georgia's business protection advisor listens to investors' problems
International investors have asked the Georgian authorities to sort out a number of problems.Armenia explores Russian loan system
The government of Armenia has provided $13.5 million from a Russian loan for financing the first stage of a program of the stabilization of the economy, Panorama.am reports, citing the government press-service. Premier Sarkisyan said that Armenia had developed clear conditions for a program aimed at stimulating export and tourism development. He said that the program was a success, and the economy grew by 8.8%. Which, he said, was the reasoning for the $13.5 million loan.
All aims will be achieved
Khloponin: any republic of the Russian federation would envy Ingushetia's housing constructionArmenian minister of economy considers money transfer harmful
Armenian Minister of Economy Nerses Yeritsian noted in his speech at the conference on money transfer that transfers have positive and negative aspects. The positive aspect is that they help cope with poverty, the negative aspect is that they create obstacles for the economic activity of the population. Transfers to Armenia's GDP from abroad has reached 12-13%. But in terms of crisis it is an unstable money flow, news.am reports.50 investment agreements concluded in Petersburg
Over 50 agreements were concluded in the framework of the Petersburg Economic Forum, amounting to about 15 billion euros, Arkadiy Dvorkovich, a presidential assistant said, reports RIA Novosti, the main information partner of the Forum.The merging of some companies is provided for in a number of agreements, such as the projects "North Stream" and "South stream", which now include "Gazprom" as well as some French energy companies.Tkachev: Petersburg and Sochi forums supplement each other
The governor of the Krasnodar Krai, Aleksandr Tkachev thinks that the International Economic Forum in Saint-Petersburg and the International Investment Forum in Sochi can both help stimulate the intensive economic development of Russia, Yuga.ru reports.The forum in Sochi will take place on September 16th-19th. All the participants of the Saint-Petersburg forum have been invited there as well.International summit of Arab bank sector opened in Istanbul
Heads of Arab banks, holding $2 trillion dollars in reserve, met inIstanbul. The International summit of the Arab banking sector willdiscuss the opportunities for cooperation in the process of coming outof the crisis, TRT reports.Investment business-forum to be held in Baku
Baku will hold an investment conference on the opportunities of business in Azerbaijan and the CIS countries on June 21-22, 1news.az reports, citing the Azerbaijani Ministry of Economic Development.The conference was organized within the framework of the 35th annual session of the board of directors of the Islamic Development Bank of the Islamic Corporation of Developing the Private Sector (ICD), the Azerbaijani Investment Company and the Azerbaijani Fund of Export Promotion and Investment (Azpromo).Turkey expects investments from South Korea
A cooperation agreement between Turkey and South Korea was signedduring Turkish President Abdullah Gul's visit to South Korea, TRTreports.Gul was welcomed by South Korean President Lee Myung-bak at the 'BlueHouse' palace. They discussed economic and energy issues and signed 4agreements. Turkish Minister of Energy and Natural Resources TannerYildiz noted in his interview with TRT that the agreement he signedwith his South Korean counterpart will be finalised after the G20summit in Seoul.US to invite investment in Georgian hydro-energy
USAID has started inviting investments in Georgian hydro-energy. Theproject was presented at the Courtyard Marriott hotel, Trend reports.Approximately $9 billion will be invested in the project. The projectis aiming at adding a renewable part of the energy system, namely anecologically clean 400 megawatt system. USAID said that the projectwill make Georgia energy-independent and it will sell energy to thegrowing Turkish and East European markets.Gazprom discusses terms for GDF Suez, EdF to join pipeline projects
The head of Gazprom, Alexey Miller, discussed the terms for Frenchcompanies GDF Suez and EdF to take part in the 'Nord Stream' and'South Stream' projects, RIA Novosti reports, citing a statement bythe Russian energy giant.World Wine Congress to be opened in Georgia on June 22nd
The 33rd World Wine Congress will be held in Tbilisi from June 22nd-27th, Interfax reports. Over 200 delegations from various countries have applied to participate. The guests will visit different regions of the country, vineyards and wine production equipment exhibitions. A tasting contest of the best Georgian wines will be organized.South Ossetian agriculture requires finances
Inal Pukhayev, the head of the administration of the Tskhinvali district of South Ossetia, says that the agricultural sector of the republic can be revived only with significant state support, IA "Res" reports. He says that the ten million rubles invested in the agriculture of the district by the state is useful for organizing farming, but is not enough.European Commission to grant Georgia 37 million euros
The European Commission has approved the Georgian plan of actions for2010, and Tbilisi will receive 37 million euros, Georgia Onlinereports.According to the commission, the sum will be used for regionaldevelopment, the economic integration of Georgia into the EU, therealization of social protection programs and public financemanagement reforms.Iran to build 20 power plants using private investors
The deputy director general of Iran's 'Tavanir' electric companyGolyam Reza Khoshkhalk declared that the construction of 20 powerplants has been handed to the private sector. He noted that Iran needsa surplus of 5 thousand megawatts annually, Iran News reports, citingIRIB News.Khoshkhalk noted that Iran has 24 million consumers of electricityusing 170 billion kilowatt per hour. The number of consumers rises by1.2 million annually.Armenian-British businessmen chamber opened in Yerevan
The official opening ceremony of an Armenian-British businessmenchamber took place today. According to the chairman and founder of theArmenian-British union and member of the chamber's council, AykArutiunyan, they came up with the idea to open the chamber a year agoand it was realized in Yerevan. The chamber will boostArmenian-British economic and trade relations, as well asinternational investment programs in Armenia, he said, panarmenian.netIranian projects to be realized in Georgia
A meat processing plant will be built in Georgia using Iranian investments, the Georgian Minister of Agriculture Bakur Kvezereli said on a working visit to Iran, Business Georgia reports.He said that the sides are planning aiming at extending cooperation in agriculture and intensifying trade relations. In exchange for investments Iran expects lamb meat import.Iranian Minister of Agriculture Sadek Khaliliyan said that Iranian 75 million consumer market is open for Georgian products.‘Mir’ pipeline construction contract signed off in Iran
The deputy minister of oil and Director-General of the IranianNational Gas Company, Javad Ouji, said that the Board of Directors ofthe Iranian National Oil Company have ratified the contract onconstruction of the 'Mir' pipeline to export Iranian gas to Pakistan,priced at $7 billion, Iran News reports.A high-ranking delegation from the Pakistani Ministry of Oil andNatural Resources will arrive in Tehran for the signing.Putin discusses problems of reconstruction of South Ossetia with Eduard Kokoyty
26 billion rubles will be spent on the reconstruction of South Ossetia, Russian prime minister Vladimir Putin said at his meeting with Eduard Kokoyty, the president of South Ossetia.Cement plant construction planned in Ingushetia
A session devoted to the construction of a new cement plant has taken place today in Magas, Yuga.ru reports. The session was chaired by Yunus-Bek Yevkurov, the president of the republic.The main topic of the meeting with investors was elaboration of suggestions on the construction of the site. The sides agreed that specific investment plans would be put to the government in 30 days.Georgian commercial bank assets to reach $5 billion
The total assets of Georgian commercial banks exceeded $4.8 billion on May 1st. According to Georgian National Banks it is $450 million more than last year’s indicator, Georgia Times reports.The total assets of the bank sector reached $873 million, or 17.8% of cumulative assets.Georgian commercial banks had a $5 million income in April and $13.7 million since the start of this year.Armenia will continue to rely on foreign support in 2010 - UN
The world GDP after reducing by 2% in 2009 will rise by 3% this yearand by 3.1% in 2011. According to the new UN report on the worldeconomic state and prospects for 2010, the revival of the worldeconomy will be unstable and rapid and will not lead to the recoveryof the employment market.The head of UN Department of Economic and Social Affairs, Robert Vos,noted that current forecasts on the world economic development arebetter than six months ago. However, the unemployment level is stillrising around the world.Azerbaijani telecommunication satellite construction deal signed
The Azerbaijani Ministry of Communications and InformationTechnologies (MCIT) has signed a general contract on the constructionof the first Azerbaijani telecommunication satellite, AzerSpace. Thecontract was signed by the director of the Center of InternationalConnections and Calculations of Jalil Jafarov and the vice-presidentof Orbital Sciences Corporation (USA) Michale Larkin, Turan reports.
Azerbaijan signs contract on renting orbit for national satellite
The Azerbaijani Ministry of Communications and InformationTechnologies and Malaysian satellite operator MEASAT signed along-term contract in Istanbul today on renting an orbital positionfor the Azerbaijani satellite Azerspace, Trend reports citing theministry.Japanese company to carry out hotel project in Yerevan
The Japanese company Aray Architects has won a tender to develop aproject to build the the hotel complex Intercontinental. According tothe head of the architectural group, Levon Vardanyan, the famousJapanese architect Aray Yokaza will work on the hotel project, ArmeniaToday reports.
