Russia starts funding UNIDO project for Eurasian Economic Community and Armenia

2010-03-27 11:25:00

ArmInfo. The United Nations Industrial Development Organization
(UNIDO) will develop investment and technology promotion networks for
the European-Asian Economic Community (EurAsEC) and Armenia, which has
an observer status.

The three-year project worth USD 2.2 million will be funded by the
Russian Federation, the Armenian Foreign Ministry told ArmInfo.

An agreement on this was signed in Vienna today by UNIDO
Director-General, Kandeh K. Yumkella, and the Permanent Representative
of the Russian Federation to the International Organizations in
Vienna, Ambassador Alexander Zmeyevskiy, says the UNIDO website. The
project will contribute to innovative development and modernization of
the economies of the countries of EurAsEC. It will increase technology
and investment flows into the industrial sector, help create new
technology-based enterprises, and increase employment, income and
living standards. UNIDO will support the governments of the above
states, as well as the governmental and private establishments,
enterprises and investors.