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Armenia live exports grow 256% despite pandemic


Live exports of sheep and goats from Armenia grew 256% in January-July 2020 despite the coronavirus pandemic, according to data released by PM Nikol Pashinyan. He said that around 41,000 of sheep and goats worth 3,4 million dollars were exported. “This growth is the direct result of the government’s several actions,” he said, adding that live exports of these animals brings profit to many farmers. “I continue to insist...

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Armenia and Russia ink protocol on developing South Caucasian Railway


The Armenian Ministry of Territorial Administration and Infrastructures and Russia’s Ministry of Transportation signed a protocol aimed at the development of the South Caucasian Railway. The document was signed by Deputy Minister of Territorial Administration and Infrastructure Armen Simonyan and Russia’s Deputy Minister of Transportation Vladimir Tokaryev. The protocol was signed based on the agreements reached during the 19th...

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U.S. provides additional assistance to Armenia to respond to COVID-19


The United States Government has committed an additional $1.43 million through the U.S. State Department and U.S. Agency for International Development (USAID) to address the impact of COVID-19 in Armenia. In total, the U.S. Government has committed over $4 million in emergency assistance to Armenia in FY20. The United States is providing life-saving support by coordinating with the Government of Armenia, international humanitarian partners, and...

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Haypost and Post of Russia the first companies in region to launch a new money transfer system


Having joined the new program of the Universal Postal Union, Haypost CJSC jointly with the Russian Post launches the new "PosTransfer" money transfer system since, Haypost CJSC told Armenpress. This is the first official corridor to be opened not only in the CIS region but also among all UPU members-signatories to the Postal payment services agreement. The opening was warmly welcomed by the customers. The system allows making money transfers...

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WB canceled an additional 1.7% interest rate on loans from IDA for Armenia for a year


For one year, the World  Bank canceled an additional 1.7% interest rate on loans from the  International Development Association (IDA) for Armenia. According to  the estimates of the WB and the Ministry of Finance of the Republic  of Armenia, as a result of the one-year cancellation of this rate,  the state budget of Armenia will save about $ 13 million on interest  payments on foreign debt. "Due to coronavirus...

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IMF Executive Board adopts decision on immediate release of US$280 million for Armenia


The Executive Board of the International Monetary Fund (IMF) completed the second review of the Republic of Armenia’s performance under the program supported by the Stand-By Arrangement (SBA). The decision allows an immediate release of US$280 million for Armenia. The augmentation of access will help the authorities contain short-term risks and will provide resources to meet the urgent human and economic implications of COVID-19...

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