IZMIRLIAN FOUNDATION HELPS WITH CREATION OF 4-5 THOUSAND JOBS IN ARMENIA

Noyan Tapan
Jun 26 2007

YEREVAN, JUNE 26, NOYAN TAPAN. Since 1999, 4-5 thousand jobs have been
created under the programs implemented by the Izmirlian Foundation
in Armenia, which was announced at the June 26 press conference with
the participation of the Deputy Chairman of the Izmirlian Foundation
Jacques Sarkisian, the Chairman of Araratbank’s board Ashot Osipian
and member of the Central Bank of Armenia (CBA) board Artur Javadian.

In the words of A. Javadian, about a billion drams (about 2.9 million
dollars by the market exchange rate as of June 26) has been invested
by the program on crediting of small and medium enterprises implemented
by the Izmirlian Foundation and the Eurasia Founadtion (financed by the
USAID). The Izmirlian Foundation has also implemented several crediting
programs jointly with the Balck Sea Trade and Development Bank.

J. Sarkisian reminded that the Izmirlian Foundation was created in 1994
with the aim of assisting Armenia. It has financed the construction of
three buildings of Yerevan Military Institute after Vazgen Sargsian,
the repairs of the library of Yerevan State University and the school
of the Chldran village in the NKR, the reconstruction of a number of
architectural monuments in Meghri. The Izmirlian Foundation jointly
with the Mother See of Holy Etchmiadzin and the Eglob organization
is implementing a program on financing farms with low incomes in
Etchmiadzin region.