Prime Minister of Armenia Karen Karapetyan on Tuesday received the representatives of the European Bank for Reconstruction and Development (EBRD) and Amber Capital.
Issues related to the activity of private equity fund established by Armenia and EBRD were discussed. Amber Capital has been named the winner as a result of the previously announced competition for the selection of the fund manager.
In particular, reference was made to the directions of priority investment programs and their timelines.
EBRD Deputy Vice President Betsy Nelson noted that the operation of the fund needs implementation of programs aimed at the development of public administration, promotion of small and medium-sized business (SME), organization of educational programs for SME representatives aimed at raising the corporate management transparency, as well as management of finances and brands, etc.
According to Mr Nelson, the implementation of the programs aims to attract investments in Armenia’s SME and prove that efficient investment programs can be implemented in the country.
PM Karapetyan, for his part, thanked for the cooperation, underscoring the need for the fast launch of the fund’s operation. He also stressed that the Armenian Government is determined to implement reforms in all the spheres. “I am sure we have everything to build a prosperous state. I attach importance to the establishment of such a fund, which—apart from ensuring economic result—will contribute to the introduction of new culture of corporate management in our country and improvement of the SME activity,” the PM said, underscoring the importance of organizing educational programs aimed at raising the efficiency and productivity of SMEs. Karapetyan also noted that the cooperation between the fund and the Center for Strategic Initiatives will be essential for the improvement of the business environment, introduction of new culture and application of modern technologies.
