Pan Armenian News

ARMENIA 33RD COUNTRY SIGNING PSOM AGREEMENT

10.06.2005 08:55

/PanARMENIAN.Net/ Armenia is the 33rd country that has signed agreement with
the Netherlands over the Programme for Co-operation with Emerging Markets
(PSOM), Dutch Minister of Development Cooperation Agnes Van Ardenne stated
at a press conference in Yerevan. In her words, it is the first visit to
Armenia, however the very positive assessment of the Armenian economy by the
WB is sufficient for making conclusions. According to the document the main
goal of the PSOM that will be implemented in Armenia is to promote the
private sector via encouraging economic cooperation of business circles of
Armenia and the Netherlands. In Ardenne’s words, just the viable private
sector forms the basis of sustainable economic growth in the country. In her
words, Dutch investors ready to come to Armenia are already known and the
matter concerns gardening, food processing, infrastructures. In his turn
Armenian Minister of Finance and Economy Vardan Khachatryan noted that 48
million euros are planned to be shared by 42 countries in compliance with
the programme. In his words, the best programs, which include 1-2 programs a
year, will receive financing of 500 thousand euros. As noted by the
Minister, since 1998 diverse programs have been implemented in Armenia with
the support of the Netherlands. In his words, programs in the Ararat region
of Armenia totaling 1.5 million euros, in Lori – of 0.9 million euros and
others were implemented in 2003. He also noted that the Dutch Government
annually granted Armenia 4.7 million euros and the grant will make 5 million
starting with the next year. The accord was signed by Armenian Minister of
Finance and Economy Vardan Khachatryan and Dutch Minister of Development
Cooperation Agnes Van Ardenne.

From: Emil Lazarian | Ararat NewsPress