IFC TO PROVIDE 11 MILLION DOLLAR CREDIT TO ARMAVIA

Noyan Tapan
Feb 28 2007

YEREVAN, FEBRUARY 28, NOYAN TAPAN. The International Financial
Corporation (IFC) will provide a 11 million US dollar credit to the
Armenian airline Armavia. Gerome Souklal, IFC Regional Director for
Central and Eastern Europe, told this to reporters on February 27.

According to him, it is envisaged to start negotiations around signing
the agreement between IFC – the World Bank’s unit on private sector –
and Armavia in March.