Investors Club of Armenia to announce about 1 billion USD programs in November – President Sargsyan

Yerevan and Moscow are developing the roadmap for implementation of programs within the frames of a joint investment fund: the resources can also be directed for financing the programs in IT and energy field, President of Armenia Serzh Sargsyan said in an interview to RIA Novosti.

The project on creating Armenian-Russian investment fund was submitted in late January 2017. It will finance those fields which can ensure increase of trade turnover, exchange of import, development of industrial cooperation between the two countries.

“As for the Russian-Armenian fund, we continue working. Recently the representatives of the fund visited Armenia. If we talk about the fields for investments, they are the IT, energy, high technology production…At the moment the sides are working on forming a roadmap”, President Sargsyan said.

At the same time, the President said another two investments funds have been established in Armenia: one of them is the Pan-Armenian investment fund, and the second is the Investors Club of Armenia. “On November 13 this fund will hold a great presentation in Yerevan on launching an investment program (a little more than one billion USD). Those are investments mainly in Armenia’s energy fields which includes the modernization of Armenian electric networks, construction of new hydroelectric power plant and organization of production for Schneider Electric energy company. And I think that this production will find its consumer in the Russian market as well”, Serzh Sargsyan said.