Author: Dabaghian Diana

‘ARMROSGAZPROM’ CJSC TO INVEST ABOUT $20 MLN TILL LATE, 2008, IN REGULATION OF GAS SUPPLY REGIMES IN YEREVAN

ArmInfo
2008-10-15 16:49:00

ArmInfo. Within the frames of the programme of regulation of gas
supply regimes in 2008, "ArmRosgazprom" CJSC will invest over 6 bln
drams (about $20 mln), the Company’s message says.

According to the source data, the investments will be directed to
enhancement of the diameters, the flow capacity and cross-feeding of
the operating gas pipelines, installation of 185 cabinet-type gas
control points, as well as for construction of the new fourth gas
distribution station (GDS-4) which assures additional gas supply of
Yerevan consumers.

The main gas supply scheme, which is matched up with the capital’s
general layout and takes into account the city’s development till
2020, has been drawn-up for Yerevan. In the capital, "ArmRosgazprom"
CJSC carries out repair, relaying and construction of overland
and underground gas pipelines of average and low pressure, as
well as the system reconstruction works directed to regulation of
regimes and enhancement of the gas supply quality. At present, the
works on reconstruction of the gas distribution network have been
almost completed, that makes up over 60% of the envisaged volume of
investments, and the works on construction of GDS-4 (40%) will be
completed till late, 2008. As the Company said, the gas distribution
system of Armenia has been designed and built in compliance with
gas consumption standards in a Soviet period. As a result of sharp
growth of the natural gas consumption in the republic over the last
years it has become necessary to carry out a work for regulation of
gas supply regimes. Taking into account the real opportunities of the
gas distribution network and to assure normal gas supply to consumers
this winter, "ArmRosgazprom" CJSC started carrying out the required
works for settlement of these problems.

SERIOUS TENDENCY OF REAL ESTATE PRICES CORRECTION IN ARMENIA

ArmInfo
2008-10-13 14:02:00

ArmInfo. Real estate prices have started falling at the end of summer
in Yerevan. According to the monthly report of Cadastre Real Estate
Committee, the average price for 1 sq/m of an apartment in Yerevan
has fallen by 1,8% in August. The number of the real estate bargains
also reduced in August by 15% if compared with July and by 22% if
compared with August 2007.

As Director of Armenian Real Estate Market Artem Pribylsky said,
prices falling tendency has been preserved, and they fell by
1-3% in September and at the beginning of October. He also added
that the world economic crisis has affected the situation at the
Armenian real estate market. ‘Armenians of the Diaspora and the local
residents, which receive transfers, are the main buyers of the primary
accommodation. For this reason because of worsening of the economic
situation in the transfer-donor states (Russia and the USA) inflow
of cash reduces as a result of which buying ability is also reducing.

Pribilsky also said no rush sale of real estate has been noticed at the
market because of real estate proces falling. But this does not rule
out rush at the mortgage market, where the real estate prices will fall
much but the mortgage bank rate will grow because of liquidity falling.

According to the data of ArmInfo analysts, Armenian banks have made
the conditions of the mortgage credits giving more severe of the
last months.

The world liquidity crisis has not yet touched on the banking system of
the country since there are no big volumes of the sums attracted from
abroad in the liabilities, but the danger of its possible affecting
Armenia make the banks to increase ‘liquidity pillow’. Thus, certain
reduction of the mortgage crediting volumes in the country is reducing
real estate demand level in some sense and is no more able to keep
prices. Moreover, one should take into account that the real estate
sector, the ‘locomative’ of the Armenian economy, which almost fully
depends on foreign money inflow, still remains the weakest and the most
affected by foreign crisis tendencies. The domino effect may work in
other sectors of economy as well, in case of stagnation. Nevertheless,
as analysts say, today the long-awaited correction of prices has
been notices of the real estate market, which have risen up to the
inadequate level thanks to foreign money inflow over the last years.

AGBU Press Office
55 East 59th Street
New York, NY 10022-1112
Phone: 212.319.6383, x118
Fax: 212.319.6507
Email: [email protected]
Website:

PRESS RELEASE

Monday, October 13, 2008

AGBU Virtual College Presented To Armenian Public

On Sunday, September 28, 2008, hundreds of individuals gathered in
Yerevan, Armenia’s Aram Khachaturian Concert Hall to watch the
presentation of AGBU’s highly anticipated educational resource, the AGBU
Armenian Virtual College (AVC), which is slated to launch in January
2009.

The AVC presentation was attended by various high-ranking members of the
Armenian government, including Prime Minister Tigran Sargsyan, Education
and Science Minister Spartak Seyranian, Culture Minister Hasmik
Poghossian, AGBU President Berge Setrakian, and various AGBU donors,
including London-based Armenian benefactor Vatche Manoukian,
American-Armenian philanthropist Albert Boyadjian, and members of the
AGBU Central Board Vasken Yacoubian and Ruben Keshishian. The event was
also attended by a host of local Armenian intellectuals and academics
with a particular interest in scientific and educational innovation.

The AVC presentation was jointly organized by AGBU and Public Television
of Armenia and the event was hosted by commentator and spokesman Artak
Alexanian. During various breaks in the evening’s presentation, audience
members were treated to performances by various renowned Armenian pop
stars, including Lilit Pipoyan, Arsen Grikorian, Hayko, Shushan
Petrossian and the Empiray rock group.

AVC Coordinator and AGBU Silicon Valley Chairman Yervant Zorian was on
hand to make an extensive presentation about the online program about
its significance for AGBU’s educational mission.

AVC is an Internet-based accredited distance learning program that aims
to facilitate Armenian studies through new technologies. AVC provides
Armenian courses in history, language and culture (architecture,
geography, fine arts and music) and allows participating students to
choose from six languages of instruction: Western and Eastern Armenian,
English, Russian, French and Spanish. AVC will tailor lessons to suit
each student’s needs, thus ensuring that Armenians from around the
world, regardless of their age, country of residence or knowledge level,
will benefit from the resource.

During the presentation, the audience was treated to live online chats
with potential AVC students in Moscow, San Francisco and Damascus, which
demonstrated the program’s remarkable potential to serve the global
Armenian community.

In addition to AGBU’s extensive support of AVC, the program was also
made possible through the involvement of computer programmers and
Internet specialists from Yerevan State University and the National
Academy of Sciences of Armenia. For more information about AVC, please
visit

Established in 1906, AGBU () is the world’s largest
non-profit Armenian organization. Headquartered in New York City, AGBU
preserves and promotes the Armenian identity and heritage through
educational, cultural and humanitarian programs, annually touching the
lives of some 400,000 Armenians on six continents.

TOKAREV, ISMAILOV, MARTIROSIAN WIN!
By Alexey Sukachev

fightnews.com
October 7, 2008

Four local shows were staged on Friday and Saturday nights in different
regions of Russia. While a temporary center of Russian pro boxing made
its way to the north-western part of the country (events in Vyborg
and St. Petersburg), tournaments in Kazan and Ramenskoye were also
marked with new faces and attractive encounters.

Vyborg

Last Saturday Alexander Yagupov of Colosseum Box Promotions
conducted his hugest tournament this year which featured several
heated match-ups between established fighters and a number of young
guns in the undercard. Local sport club "Favorite" supported.

Headlining the show was tough and extremely experienced WBO #11
cruiserweight Ali Ismailov, 34, against Contender III alumni Max
Alexander, 27, of Camden, NJ. Two-time former Olympian (2000 and 2004)
for Azerbaijan, Ismailov used his usual aggressiveness to press
defensive-minded Alexander around the ring. The American import
had his little share of success in early rounds forcing Ismailov
to stay back with his jab while initiating clinches and grabs when
Ali was able to break through Alexander’s outer defense to close
quarters. In middle rounds it became obvious that Max hadn’t enough
power neither to stop the onrushing foe nor to cope with his physical
power and determination; however, it was American’s uppercut that
bothered Ismailov most though never too much. In later rounds Ali
started looking for a finishing punch to knock Alexander out but
never succeeded. At the end of a fight night all three judges gave
the victory to Ismailov with lopsided scores: 100-90 (thrice). With
a harder-than-the-scores-tell win over American guest in a non-title
bout, WBO Latino king Ismailov moves up to 14-1-1 with 9 KOs while
Alexander drops down to less impressive 14-3-2, 2 KOs.

In what seemed to be the most compelling match-up of the evening,
Russian-based Armenian Gennady Martirosian (14-1, 4 KOs) scored the
biggest win of his life to date with a well-earned unanimous decision
over Hungarian kayo artist Attila Kovacs (24-2, 17 KOs), who was 22-0
since losing his third only pro encounter. Light-hitting but busy
Martirosian used his superior speed to fool slow Kovacs and to wear
his opponent down with a relentless bodypunching. Attila was down
in round four after a slip and looked increasingly tired down the
stretch. Martirosian punctured his unanimous decision over Hungarian
with some successful exchanges at the end.

Uzbek puncher Sherzod Nazarov (9-3, 8 KOs) had never lived up to
expectations during his clash with Spanish-based Columbian Nacho
Mendoza (24-4-2, 15 KOs) and failed to make a quantum leap in
his opposition suffering a brutal six-round kayo loss. Nazarov was
brainlessly aggressive since round one taking too many punches only to
pin his opponent to the ropes without any subsequent success. Sherzod
was briefly down in round one after a quick Columbian counter
double. He won next three rounds on sheer aggression but was decked
again in round five and saved by the bell. It was clear Nazarov had
nothing left and Mendoza proved the point in the sixth stanza knocking
Sherzod out with another series of hooks.

Other results

Maxim Maslov (6-0, 4 KOs) W6 Remigiyus Ziasus (7-16, 5 KOs) Daniel
Peretyatko (14-18, 5 KOs) TKO5 Stanislav Lukyanchikov (0-4) Ulugbek
Buribaev (8-0, 7 KOs) TKO2 Alexander Lykov (1-9-1) Sherzod Alimjanov
(11-0, 9 KOs) TKO2 Leonty Vorontsuk (19-35-1, 6 KOs) Samariddin
Kholboev (6-2, 2 KOs) W6 Ravil Mukhamadiarov (7-24, 6 KOs) Mikhail
Makarov (7-0, 2 KOs) W6 Sergey Bazenkov (1-4)

Kazan

The most active Russian promoter German Titov joined his efforts with
local boss Rinat Yusupov to arrange a five-bout show at KRK Pyramide,
highlighted by two national championships, on Friday night.

In the featured fight of the evening, 23-year old Chelyabinsk native
Vasily Lepikhin (5-0, 3 KOs) put on a boxing clinic by beating his
previously undefeated Barnaul opponent Rudolf Asaturyan (8-1, 4 KOs)
to the punch and scoring a knockdown in round four. As a result,
Lepikhin acquired Russian light heavyweight belt, previously owned
by Asaturyan, with a unanimous decision over ten rounds.

In a minor upset, light hitting Fariz Kasimov (7-1-1, 1 KOs) showed an
unexpected power to floor local favorite Timur Gimaev (7-1-1, 2 KOs)
in the ninth round and to receive a well-earned unanimous decision
over him along with a vacant Russian light welterweight title.

Hot prospect Maxim Vlasov (13-0, 5 KOs) was once scheduled to take
part in the show but his match with tough Belarus journeyman Yuri
Tsarenko was abruptly cancelled due to Tsarenko’s health issues.

Other results: Shavkhat Madaminov (8-1, 2 KOs) TKO 8 Takhir Ibragimov
(0-18) Valery Volozhenin (11-0-1, 5 KOs) MD 6 Tolgat Dosanov (10-11-1,
4 KOs) Albert Valeev (5-1, 3 KOs) UD 6 Mahsud Jumaev (2-5-1)

St. Petersburg

Meanwhile, on Friday night at Casino Conti, IBF #9 cruiserweight Vadim
Tokarev (25-1-1, 18 KOs), the only fighter to defeat Ismailov in pros,
made his bright return after a year-long layoff stopping overmatched
Chris Thomas (16-9-2, 8 KOs) of USA in round three. After two
relatively even rounds Tokarev exploded with a brutal attack dropping
Thomas to his knees early in round four. The American was able to get
up only to be floored again soon after that; this time for the count.

Also, Alexander Kotlobay (11-1-1, 7 KOs) has quickly demolished Belarus
Igor Shukalo (15-15, 8 KOs) to capture the WBC CISBB 200lb belt.

Ramenskoye

A tiny card, established by Makha Shermat on Oct. 4, was highlighted
with another victory for rising bantam prospect Sakhib Usarov (10-0, 5
KOs) who scored a unanimous eight-round decision over Zhanat Zhakiyanov
(3-1, 1 KO).

SESSION OF THE STATE COMMISSION ON SYSTEMATIZATION OF FLAT PROGRAMS

Azat Artsakh Daily
01 Oct 08
Republic of Nagorno Karabakh [NKR]

On September 30th the session of the state commission on
systematization of flat programs took place presided over by the NKR
prime minister Ara Harutyunyan, who, after a long discussion, decided
to suggest the NKR government in 2008 to organize works for solving
flat programs of the persons and families included in the agenda.In
conformity, it was resolved to construct a dwelling for the family of
killed azatamartik in Qyuratagh village of Hadrut region. According to
the next question of the agenda, 5 one-room flats will be bought for
orphaned children in Stepanakert.It was decided to by a three-room
flat for Zaven Ghahramanyan’s family and a one-room for refugee,
participant of Great Patriotic War Armen Abrahamyan.According to the
decisions, flats will be bought for the inhabitant of Rev village,
of Askeran region Grisha Petrosyan and for Valery Margaryan’s family.

SYCOPHANTS ARE THE FIRST TO BETRAY AT DIFFICULT MOMENTS
Gevorg Haroutyunyan

Hayots Ashkhar Daily
01 Oct 2008
Armenia

Interview with MP VICTOR DALLAKYAN

"Do you yourselves see the 36 individuals who can remain objective
and impartial, oppose the country’s President and the other state
officials?"

"I am sure that the most difficult task at this point falls to the
lot of the President of the country. Out of the 36 members of the
Public Council, 12 are going to be appointed by him. I am sure that
the President will select such people who will really be able to
contradict or oppose him.

If those 12 members are people who are only going to fawn on the
President, this institute will never become accomplished.

During the very first session of the committee Serge Sargsyan
emphasized this fact. The ‘army’ of those fawning on the President
and the other officials is very big as it is, and there is no need
to create a new structure for enlarging it still further.

Besides, that poses danger to the President himself. History proves
that the sycophants are always the first to betray, and they always
appear in the ‘army’ of the opposite side. I don’t think the President
of our country needs new Brutuses.

But finding 12 impartial and honest individuals is really very
difficult.

Unfortunately, there are no Sakharovs or Solzhenitsins in 0AArmenia,
and many estimable representatives of the intelligentsia became
politicized in the early 1990’s for well-known reasons."

"Mr. Dallakyan, is the Public Chamber just a linking channel between
the President and the people or an attempt of introducing moral
standards to the political domain and restoring moral values in
politics."

"I approve of the Public Chamber’s role you sketched in the second part
of your question. A structure set up under the President of the country
does not really have unlimited competences,and can be influential and
effective only due to its moral power. I am sure that the civil society
will become accomplished when the moral values are prevalent. If the
political circles in our country were guided by those values and the
state government and local government systems worked efficiently,
there would be no need to set up such structure under the President.

After all, it is an axiomatic truth that the authorities are created
for ensuring the welfare of their own people. Of course, this problem
isn’t solved by setting up separate structures, because the existing
non-governmental structures may contribute to or hamper the process
of the implementation of the authorities’ main tasks."

GEORGIA’S STABILITY EXTREMELY IMPORTANT FOR ARMENIA
Hrayr Zoryan Armenpress

Hayots Ashkhar Daily
01 Oct 2008
Armenia

"We highly appreciate the relations between Armenia and Georgia,
and we are also very glad to notice lots of opportunities to expand
our friendship, integrate our economies, and make communications more
stable," Armenian President Serge Sargsyan announced yesterday during
his tête-a-tête with Michael Sahakashvily.

Serge Sargsyan considers the existence of those opportunities
extremely important and underscored that he attaches great importance
to stability.

"I have told you many times that Georgia’s stability is extremely
important for Armenia, so important that we can compare it with
Armenia’s stability. 75% of our foreign commodity circulation passes
via Georgia; we have hundreds and thousands brothers and sisters in
Georgia and our activity derives from this circumstance."

In his turn Sahakashvili underscored that Armenia and Georgia are
historically close allies, friends and brother states, united not
only by their joint history but also their prosperous future. "We
follow all the events that take place in Armenia. We highly appreciate
Armenia’s stance towards Georgian events. We received unprecedented
assistance from the whole world, lots of countries expressed their
positive attitude and Armenia supported the idea of the peaceful
settlement of Georgi an conflict. Our unity is very important, not
only from the point of view of the authorities but also the people,"
Georgian president Michael Sahakashvily said and added that people
usually remember who helped them in their hard times.

Michael Sahakashvily underscored that ethnic Armenians have a great
role in Georgia. "We don’t make a distinction between our citizens
in terms of their ethnic origins, but meanwhile we respect their
culture, identity, because they are part of Georgian culture and
identity. Naturally we are in close cooperation with them, because
there should be a dialogue between the cultures."

He considered the border between Armenia and Georgia a border of
friendship: "Consequently together with the Armenian President we
decided to make it transparent," the Georgian President announced
and informed that next week Georgian Minister of Economy and Finance
will visit Armenia to discuss those issues. He said the process of
crossing the border must be very clear.

"In my view the border between Armenia and Georgia must be like the one
between Switzerland and France," he underscored and added: "Yerevan
and Tbilisy are so close that in some sense they are continuation of
each other, we must try to fill each other’s gaps."

In this regard Sahakashvily attaches great importance to road
construction.

He informed that at the moment the road connecting

Akhalkalak and Ninotsminda with Tbilisy is in the process of
construction, which will finish in two years. "This road must move to
the borders of Armenia and Turkey. The whole region must be united
by qualitative roads. We decided to create a consortium, which will
be engaged in road construction from Goderz mountain pass to the
Black Sea."

–Boundary_(ID_iL+m3rOhr7X4zMb1lgoNSQ) —

SAAKASHVILI CALLS FOR EASING OF VISA RULES WITH ARMENIA

The FINANCIAL
01/10/2008 10:36
Georgia

The FINANCIAL — According to Civil Georgia,President Saakashvili
called for the simplification of visa rules between Georgia and
Armenia, saying it would improve relations between the two countries.

"The Georgian-Armenian border should be and it already is the border
of friendship," Saakashvili said at a joint press conference with his
Armenian counterpart, Serzh Sarkisyan, in Tbilisi on September 30. "We
have agreed to work more closely. I have instructed the ministers of
finance and economy to visit Yerevan in order to ensure that border
crossing procedures are as simple as possible."

He said that the two countries would work jointly to boost bi-lateral
economic ties, in particular through the construction of new roads
linking the two countries.

Saakashvili also said that he and Sarkisyan had agreed to set
up a consortium to attract funds for the construction of a new
transit highway through the Goderdzi Pass in the Adjaran Autonomous
Republic. He added that the road, the construction of which will take
several years, will half the traveling time from Armenia to the Black
Sea region.

He also thanked the Armenian president for expressing support for
Georgia’s territorial integrity.

"I think that recent developments in Georgia have clearly demonstrated
how important regional cooperation is, how everybody suffers from
problems and conflicts and how important it is to solve all the issues
quickly," Saakashvili said.

He also said both countries were close to finalizing work on border
delimitation and "practically there are no unsettled issues there."

"I am sure that the future of the Caucasus is in the creation of a
uniform market, the creation of uniform human, cultural and economic
spheres, close cooperation with other countries of the region. Of
course, before coming to that, we should settle the existing problems,
but I am sure that all these problems can be settled," Saakashvili
added.

The Armenian president said at the press conference that the two
countries have more room to improve bilateral cooperation. He stressed
that Georgia’s stability was very important for Armenia.

The Armenian president also emphasized that existing problems could
not be settled through military intervention. "We all understand that
the Caucasus is a small region, but it is a very sensitive area, as
interests are intercrossed here and we should do our best to ensure
that these interests are used in favor of our peoples," President
Sarkisyan said at the press conference.

UNFREEZING THE FROZEN CONFLICTS: IS NAGORNO-KARABAKH NEXT?

Hurriyet
HotNewsTurkey.com
Wednesday, October 01, 2008 14:15
Turkey

The developments of the summer of 2008 in Caucasus are likely to open
the Pandora’s box and to have an impact on the frozen conflicts that
are the legacy of the Soviet Union.

Russia’s recognition of South Ossetia and Abkhazia, two breakaway
regions of Georgia, as independent states is sure to have
ripple effects on other conflicts — Moldova’s Transdniester and
Nagorno-Karabakh, a region within Azerbaijan but invaded by Armenia.

The disputed Nagorno-Karabakh territory differs from the other frozen
conflicts.

Unlike South Ossetia, Abkhazia, and Transdniester, the population of
Nagorno-Karabakh does not hold Russian passports and does not seek
extensive Russian patronage.

Rather, its goal is outright independence, or barring that,
reintegration with Armenia.

Still the road to resolve this conflict goes through Moscow as well.

The conflict between Azerbaijan and Armenia began in 1988 due to
Armenian territorial claims against Azerbaijan.

Since 1992, Armenian Armed Forces have occupied 20 percent of
Azerbaijan including the Nagorno-Karabakh region and its seven
surrounding districts.

INTENSIFIED DIPLOMACY The efforts to resolve the Nagorno-Karabakh
problem seem to be intensified after Georgia-Russia conflict as the
situation of South Ossetia and Abkhazia increased fears of a renewed
violence and escalation of tension.

Turkey, who does not have any diplomatic ties with Armenia, had
proposed the formation of a Caucasian platform, while its president
paid a landmark visit Yerevan in early September.

During the United Nations summit in New York last week a couple of
multi-sided meetings held on the Nagorno-Karabakh conflict.

Turkish foreign minister brought his counterparts from Azerbaijan
and Armenia together, while Minsk Group also gathered to work on a
meeting of two disputed countries’ leaders.

A breakthrough in solving the Nagorno-Karabakh conflict would also
contribute to the warmer atmosphere between Turkey and Armenia, as
well as help the re-establishment of diplomatic relations between
two neighbors.

MEDIATING EFFORTS Some suggest Turkey could act like a mediator between
Armenia and Azerbaijan as the relations between the U.S. and Russia,
co-chairs the Minsk Group with France, sour after the Georgia issue.

In 1994, Azerbaijan and Armenia signed a ceasefire agreement at which
time the active hostilities ended. The co-chairs of the OSCE Minsk
Group are currently holding peaceful negotiations.

Azerbaijan, on the other hand, signaled it want Turkey as the
co-chairman of the Minsk Group.

Both of these suggestions, however, is unlikely given the fact
Armenia’s unwillingness to give Turkey, who has historic and cultural
ties with Azerbaijan, such a role.

Turkey had cut its diplomatic relations and closed the border with
Armenia after it occupied Azerbaijani territory.

Some 10 percent of the Azeri population was displaced due to a
series of bloody clashes both between and within the two neighboring
countries.

RUSSIA FACTOR Russia helped Armenian forces in the Nagorno-Karabakh
war and has a military base in Armenia.

Russia’s efforts to gain a grip on Azerbaijan’s vast energy resources
has also served Armenia’s interests in Nagorno-Karabakh by blocking
a resolution of the conflict in Azerbaijan’s favor.

And now Azerbaijan signals it could take a step towards Moscow while
keeping its relations with the West on balance. Azerbaijani leadership
said in New York Russia is a key player in the process.

Meanwhile after Georgia conflict Baku had decided to divert its West
energy exports routes to Russia and Iran.

Although the process to resolve the conflict has sped up, the
expectations of a rapid solution are low.

Moreover Baku still insists the solution must based on the territorial
integrity of the region, while Yerevan says the region could and
should be recognized as independent state.

This is more than enough to show that there is still a rocky road
ahead.

ARMENIA’S PRESIDENT HOPES FOR FURTHER COOPERATION WITH LINCY FOUNDATION

ARKA
Sep 29, 2008

YEREVAN, September 29. /ARKA/. At his meeting with reporters following
the opening ceremony for the Saralanji highway in Yerevan, RA President
Serzh Sargsyan expressed hope for further cooperation with the Lincy
Foundation.

The six-km-long highway consists of a number of transport nodal
points (four crossings, an overpass, a bridge and a tunnel). The
Lincy Foundation has invested 6bln AMD in the construction.

"I thank the Lincy Foundation and the philanthropist Kirk Kerkorian,
and hope the Foundation will continue its activities in Armenia,"
said the President.

The RA President attaches high importance to road construction as
well as to the school and road renovation program in Yerevan.

"The schools construction program has afforded our children
an opportunity to attend schools which have no equals in the
region. Provided with modern equipment, these schools make it possible
to organize the education at the highest level," President Sargsyan
said.

He stressed the road construction and renovation programs in Armenia
are very important and large-scale ones as well, and are aimed at
relieving the traffic and making streets more comfortable for citizens.

The Lincy Foundation is financed by Armenian-American businessman,
multimillionaire Kirk Kerkorian. The Lincy Foundation implemented
its first program worth $150mln in Armenia in 2001-2003.0D

A $60mln worth second program is underway comprising three projects
worth $20mln each – road construction, renovation of Yerevan streets
and schools.