The Government of the Republic of Armenia

Prime Minister Karen Karapetyan received the representatives of the European Bank for Reconstruction and Development and Amber Capital Company.

The meeting focused on the activities of the private equity fund to be established by the Government of the Republic of Armenia and the European Bank for Reconstruction and Development, which will be managed by Amber Capital according to the preliminary results of the tender announced for the selection of a manager. In particular, reference was made to the primary investment projects to be financed by the Fund and their schedule.

EBRD Vice President Betsy Nelson said the Fund shall focus on the projects aimed at developing public administration, promote SME, and provide training programs for small and medium-size enterprises, increase transparency in corporate governance, financing, brand management and other areas.

“Our programs will seek to attract investment in the small and medium business sector by demonstrating that it is possible to implement effective investment projects in Armenia,” Betsy Nelson pointed out.

Karen Karapetyan thanked Betsy Nelson for collaboration, highlighting the need to launch the Fund’s activities as soon as possible and emphasizing that the Government of Armenia is firmly determined to implement reforms in all spheres of public life.

“I am sure that we have all the necessary prerequisites to build a better country. We attach importance to the creation of such a fund, which in addition to providing economic result, will contribute to the development of corporate governance and improvement of SMEs in our country,” the Premier said and went on to stress the importance of educational programs to increase the efficiency and productivity of small and medium-size enterprises.

Karen Karapetyan noted that the cooperation between the Fund and the Center for Strategic Initiatives will be essential in terms of improving the business environment, introducing a new management culture and new technologies.