French PM Attal’s new cabinet maintains defence, interior ministers

 11:32,

YEREVAN, JANUARY 12, ARMENPRESS. France's new Prime Minister Gabriel Attal, 34, unveiled his government on Thursday with several cabinet members remaining in their posts, including Interior Minister Gérald Darmanin and Justice Minister Éric Dupond-Moretti, France24 reports.

Under the French system, the president sets general policy while the prime minister is responsible for choosing a cabinet and the day-to-day management of government.

A new French government is officially announced by the secretary general of the Élysée Palace. Alexis Kohler made the announcement from the Jardin d’Hiver (Winter Garden) of the presidential palace.

In addition to Darmanin as interior minister and Dupond-Moretti as justice minister, Bruno Le Maire retained his post as minister of finance and Sébastien Lecornu remains defence minister.

Stéphane Séjourné was named France's new foreign minister, replacing Catherine Colonna. 

Séjourné is the head of Macron’s Renaissance party and the leader of the Renew Europe group of liberal, pro-European lawmakers at the European Parliament.

Some of the women nominated to cabinet posts include former justice minister Rachida Dati as the new culture minister. Dati, who served as justice minister under former president Nicolas Sarkozy, had to leave the conservative Les Républicains party to take up her new post. 

Catherine Vautrin was appointed health and labour minister, Amélie Oudéa-Castéra will lead the education ministry and Sylvie Retailleau will head up education and research. Prisca Thevenot, previously deputy youth minister, was named government spokesperson.

Other cabinet appointments announced Thursday include:

  • Agriculture minister:  Marc Fesneau
  • Environment minister: Christophe Béchu
  • Gender equality minister: Aurore Bergé
  • Deputy minister for parliamentary relations: Marie Lebec

Prime Minister Pashinyan congratulates new French PM Gabriel Attal, conveys invitation to visit Armenia

 15:26,

YEREVAN, JANUARY 11, ARMENPRESS. Prime Minister Nikol Pashinyan has congratulated the new French Prime Minister Gabriel Attal on his appointment.

“I cordially congratulate you on your election as Prime Minister of the French Republic, and I wish you success in your high mission,” PM Pashinyan said in a letter to PM Attal. “Citing the Armenian-French age-old friendship and special relations, I am sure that during your tenure our governments will cooperate with new vigor to further deepen the multi-sectoral partnership between Armenia and France. Certainly, the 2021-2026 Armenian-French Economic Cooperation Roadmap is an effective instrument for that goal, and I am hopeful that we will utilize all existing opportunities to secure its successful implementation. I’d like to underscore that Armenia highly appreciates France’s important, consistent efforts in the process of resolving the geopolitical challenges that our country is withstanding and establishment of lasting peace and stability in the region. I am deeply grateful for your constant attention towards Armenia-related issues and your warm, friendly attitude towards the Armenian people. I’d be happy to host you in Armenia on an official visit, which will intensify our highest-level commitment to enhance our bilateral cooperation. I once again congratulate you on assuming the office of the Prime Minister of the French Republic and I wish you good luck in your initiatives. Please accept, honorable Prime Minister, the assurance of my highest consideration.”

Pashinyan lauds police for low crime rate, aims to make Armenia safest country in the world

 16:22,

YEREVAN, JANUARY 11, ARMENPRESS. Armenian Prime Minister Nikol Pashinyan has praised the police and emergency services for their work which has contributed to the country being ranked 7th safest country in the world in terms of crime rate and safety by Numbeo analytical platform. 

According to the Crime Rate and Safety Index by Country report by Numbeo in 2023, Armenia ranks 7 out of 142 countries. Yerevan city has been ranked 20th safest city out of 416, which is the highest score in the region.

The figures were reported to Prime Minister Nikol Pashinyan at the Ministry of Internal Affairs on Thursday.

The Prime Minister was pleased to hear the results and said, “Of course this data is very good, we are very happy at this stage, but I hope that we have set more serious objectives before ourselves in terms of the international image. If today we are unfortunately seventh, according to the organization, in terms of domestic safety, this means that we have to set an objective to advance further, and our objective must be to become the safest country. And the same goes for the capital city Yerevan. Tourism agencies pay a lot of attention to such things while developing their packages. We must keep the finger on the pulse all the time, and wherever we see regress or don’t see progress we ought to study and understand the reasons. Of course, first of all this process relates to the work of the police and the rescue service, meaning, this is the most important thing. Every year we must have this guideline while evaluating the work of our rescue service and police.”

Finland to keep crossings on border with Russia closed for one more month

 21:09,

YEREVAN, JANUARY 11, ARMENPRESS. The Finnish government has decided to keep the crossings on the border with Russia closed for one more month, Finnish Minister of Agriculture and Forestry Sari Essayah said, reports Tass.

A number of Finnish media reported earlier that checkpoints would be closed for a month.

"In this case, I can confirm information that has been made public," Essayah, who is a candidate for Finnish president, said in an interview with the Yle television channel.

In November 2023, Finland closed all eight of its motorway crossings on the eastern border, saying the move was motivated by Russia’s alleged campaign to let migrants from third countries reach the Finnish border.

Two crossings were opened on December 12 only to be closed again on December 14 for a period of one month "due to security considerations," according to the Finnish side.

On January 9, Finnish Prime Minister Petteri Orpo said that Helsinki would not reopen the border crossings after January 14. The cabinet was expected too make a decision on this matter on January 11.

Without ‘Zangezur Corridor’ Azerbaijan Will Not Open Border with Armenia, Aliyev Says

President Ilham Aliyev of Azerbaijan was interviewed by reporters in Baku on Jan. 10


President Ilham Aliyev of Azerbaijan on Wednesday said that without a land corridor connecting his country to Nakhichevan, he will not authorize the opening of any border with Armenia, a condition of the peace treaty, as well as the November 9, 2020 agreement.

Speaking to local reporters on Wednesday, Aliyev doubled down on Baku’s insistence to carve out the so-called corridor, warning that if Yerevan does not comply with his demands, Armenia will remain land locked.

“Otherwise, Armenia will remain an eternal deadlock, and if the route (Zangezur) I mentioned is not opened, we are not going to open our border with Armenia anywhere else. So they will do themselves more harm than good,” Aliyev emphasized.

“People and goods should pass from Azerbaijan to Azerbaijan without any checks,” Aliyev added.

Yerevan has opposed the creation of such a corridor, a move supported by Iran, whose foreign ministry reiterated Tehran’s opposition to border changes in the region, in response to Ankara’s insistence that such a “corridor” be opened.

Aliyev pointed to a clause of the November 9, 2020 agreement that calls for the opening of transport links — railway and roads — between Armenia and Azerbaijan, claiming that this provision of the document mandates the opening of the so-called “corridor.”

He called the adoption of the document “our great political success,” saying that Azerbaijan’s occupation of Shushi during the 2020 War paved the way for Baku to insist on these preconditions.

“If Shusha [Shushi] had not been liberated from occupation, we would not have been able to achieve the inclusion of these conditions in the statement,” said Aliyev. 

“That is, our victory. The fact that we were strong, allowed us to include in it [Nov. 9, 2020 document] even those conditions that were not related to this issue, in particular those related to the Zangezur corridor,” Aliyev outlined.

The Azerbaijani president’s remarks come at a time when Baku has stepped up its insistence to include the “corridor” concept within the text of a proposed peace treaty. This position was also recently echoed by Turkish officials.

Aliyev’s top advisor, Hikmet Hajiyev, told Reuters last week that the “corridor” was a “main point” of the peace agreement. This followed remarks by Turkey’s defense minister, who said the road to Nakhichevan must open by 2029, prompting Tehran to reiterate its opposition to the plan.

In his responses to questions from reporters, Aliyev also brought up his claims that eight Azerbaijani villages are currently “under Armenia’s occupation,” saying that Baku is backpedaling in its most recent proposal for a peace treaty.

“This issue was discussed during my contacts with the prime minister of Armenia, including the last conversation in St. Petersburg. I raised this issue, and this issue is also on the agenda of commissions dealing with delimitation. I should also inform you that the next meeting of the commissions is scheduled for this month, and this issue is on the agenda,” Aliyev noted.

Foreign Minister Ararat Mirzoyan on Wednesday echoed remarks by Armenia’s National Security chief Armen Grigoryan, who told Armenia’s Public Television about the recent proposals by Azerbaijan regarding the peace treaty.

Yerevan has also insisted that international mediators act as guarantors for the peace treaty, a notion categorically rejected by Aliyev on Wednesday.

“This is a peace treaty to be signed between two sovereign states. We don’t need any guarantors here, and if it is going to be signed in a bilateral format, it should be signed. If someone wants to help, we don’t mind that either. However, this help should not be mandatory,” Aliyev added.

The Azerbaijani leader also took the opportunity to issue threats and warnings not only to Armenia, but also the international community, saying they underestimated his drive to advance his agenda.

“I openly told both the leadership of Armenia and international actors that I can press a button at any time and carry out this operation in one minute, and they would not be able to do anything,” Aliyev said, referring to Azerbaijan’s attack on Artsakh in September which resulted in the forced exodus of the Armenian population there.

“The course of these events showed — and I believe that this should serve as a lesson not only for Armenia, but also for those who stand behind it — that it is impossible to speak to us in the language of threats or behave arrogantly,” Aliyev warned, taking particular aim at France, which Baku has said is advancing a one-sided, pro-Armenia, policy.

He said negative attitudes toward Azerbaijan — from traditional targets — will not abate, saying that by providing military assistance to Armenia, France is aiming to put “constant” pressure on Azerbaijan.

“These are efforts to prevent us from living comfortably and, unfortunately, France is still in the forefront. France is the country that arms Armenia, gives them support, trains their soldiers and prepares them for another war. When I said that France’s policy is causing tensions in the Caucasus, this is exactly what I meant,” Aliyev emphasized.

Artsakh Armenians gathered at Etchmiadzin for emotional Christmas Eve mass

Armenians forcibly displaced from Artsakh experienced a deeply emotional Christmas Eve in Armenia on January 5, 2024 within the hallowed walls of St. Gayane Church in Etchmiadzin. Conducted by the Artsakh Diocese, this service marked an unprecedented moment for the Armenian community. For the very first time, the indigenous Armenians of Artsakh gathered to celebrate this sacred night on Armenian soil, away from their native lands.

The Chragaluyts, or Candlelight Divine Liturgy, holds a significant place in the heart of Armenian Christian practices. It’s a vivid embodiment of sacred light, mirroring the celestial glow of the Bethlehem Star, an important symbol in the Christian narrative. According to Christian texts, this star played a crucial role in guiding the Magi to the newborn Christ. The Chragaluyts service at St. Gayane Church is a pivotal cultural element, transcending the bounds of a mere religious rite. It weaves together faith and ancestral heritage, particularly resonating with Armenians displaced from Artsakh.

In this spiritually charged atmosphere, the act of taking lit candles and lamps back to their homes is a cherished tradition among the faithful. These candles are not only sources of physical light; they are laden with symbolism and considered carriers of blessings. The practice represents the transfer of the holy light from the church to the home, symbolizing the presence and protection of the divine in their personal lives.

The 2024 Christmas Eve celebration in Armenia for the people of Artsakh was not just a religious event; it was a poignant reminder of resilience, cultural identity and the enduring spirit of a community facing the challenges of displacement. It highlighted the deep-rooted traditions and the strong faith that continue to guide and comfort the Armenian people, especially those from Artsakh, in times of upheaval and change.

Armenians displaced from Artsakh wait outside the seventh century Saint Gayane Church in Etchmiadzin, Armenia on Christmas Eve, January 5, 2024 Armenians displaced from Artsakh wait outside the seventh century Saint Gayane Church in Etchmiadzin, Armenia on Christmas Eve, January 5, 2024 The Armenian Apostolic Church holds a Candlelight Divine Liturgy outside of Saint Gayane Church in Etchmiadzin, Armenia on Christmas Eve His Holiness Karekin II, Catholicos of All Armenians and the supreme head of the Armenian Apostolic Church since 1999, outside of Saint Gayane Church in Etchmiadzin, Armenia on Christmas Eve His Holiness Karekin II, Catholicos of All Armenians and the supreme head of the Armenian Apostolic Church since 1999, outside of Saint Gayane Church in Etchmiadzin, Armenia on Christmas Eve Armenians displaced from Artsakh wait outside the seventh century Saint Gayane Church in Etchmiadzin, Armenia on Christmas Eve, January 5, 2024 Armenians displaced from Artsakh wait outside of Saint Gayane Church with candles in Etchmiadzin, Armenia on Christmas Eve, January 5, 2024 Armenians displaced from Artsakh wait outside the seventh century Saint Gayane Church in Etchmiadzin, Armenia on Christmas Eve, January 5, 2024 Armenians from Armenia and Artsakh light candles inside Saint Gayane Church in Etchmiadzin, Armenia during Christmas Eve mass on January 5, 2024 Armenians pray inside Saint Gayane Church located in Etchmiadzin, Armenia during Christmas Eve mass Armenians from Armenia and Artsakh light candles inside Saint Gayane Church in Etchmiadzin, Armenia during Christmas Eve mass on January 5, 2024 Armenians from Armenia and Artsakh light candles inside Saint Gayane Church in Etchmiadzin, Armenia during Christmas Eve mass on January 5, 2024 Armenians attending Christmas Eve mass inside Saint Gayane Church in Etchmiadzin, Armenia on January 5, 2024 Armenians attending Christmas Eve mass inside Saint Gayane Church in Etchmiadzin, Armenia on January 5, 2024 Armenians from Armenia and Artsakh light candles inside Saint Gayane Church in Etchmiadzin, Armenia during Christmas Eve mass on January 5, 2024 Armenians from Armenia and Artsakh light candles inside Saint Gayane Church in Etchmiadzin, Armenia during Christmas Eve mass on January 5, 2024

Anthony Pizzoferrato is an Italian American freelance photojournalist, documentarian and filmmaker based in Yerevan, Armenia. His work places emphasis on reporting and documenting conflicts, political events, complex social issues, human rights and cultural history within post-Soviet states and the Middle East while creating understanding, intimacy and empathy. His work on the war in Ukraine and protests in Yerevan has been published in Getty Reportage.


Turkey and Azerbaijan announce plans to complete “Zangezur Corridor”

YEREVAN—Just when the discourse surrounding the so-called “Zangezur Corridor” seemed to have subsided or retreated from the forefront of discussions, Abdulkadir Uraloglu, Turkey’s Minister of Transport and Infrastructure, unveiled plans to finalize the “Zangezur Corridor” project by 2029, during a January 7 announcement.

Highlighting progress on the “Zangezur Corridor” undertaken by Azerbaijan and Turkey, Uraloglu revealed that the Azerbaijani segment of the “Zangezur Corridor,” stretching from Baku to Horadiz, is nearing completion. The Turkish section of the route spans a length of 224 kilometers. Uraloglu estimated that the entire process required for constructing the route would last five years, expressing confidence that all necessary work will be concluded by 2028. 

Uraloglu highlighted ongoing construction between Horadiz and Ordubad in Azerbaijan’s Nakhichevan exclave, excluding the section traversing Armenian territory.

Since signing the November 9, 2020 trilateral ceasefire agreement, which calls for the construction of transport links between Azerbaijan and its exclave Nakhichevan through southern Armenia, Azerbaijan has insisted on the creation of the “Zangezur Corridor.” The agreement states that control over transport communication will be carried out by Russian border guards. Armenian officials have repeatedly rejected Azerbaijan’s demand that the route be free from customs and passport controls and asserted that the route must respect territorial integrity and sovereignty. 

Azerbaijan’s construction of the “Zangezur Corridor” (screen grab)

Uraloglu addressed the opposition to the “Zangezur Corridor” from the Armenian side, claiming that the project holds potential benefits for Armenia. He also highlighted recent positive signals from Armenian Prime Minister Nikol Pashinyan regarding the initiative.

“The Armenian side initially responded negatively to this proposal, despite its potential advantages for Armenia, but we’ve observed recent positive messages from Prime Minister Pashinyan,” stated the Turkish official, emphasizing Turkey’s commitment to the establishment of the corridor.

In an interview with Armenian media, Turkic scholar Gevorg Galtakyan highlighted that in the conversation with Uraloglu, the interviewer asked about the potential for mutual agreement by both parties to opening the “Zangezur Corridor.” Galtakyan emphasized that if Armenia does not consent to this ultimatum, the Turkish side may resort to the use of force to achieve its objectives.

In response to the announcement by the Turkish minister, spokesperson for the Iranian Foreign Ministry Nasser Kanani insisted that trade and transit cooperation should not serve as a catalyst for geopolitical shifts in the South Caucasus.

“We consistently stress the significance of expanding regional cooperation to foster peace, stability and economic partnerships, including communication and transit. It’s imperative to underscore that the development of transit cooperation in the South Caucasus should not prompt geopolitical alterations or undermine the territorial integrity and sovereignty of nations,” Kanani highlighted, as reported by Mehr news agency.

Iran has repeatedly expressed its commitment to upholding the principles of territorial integrity and sovereignty regarding Armenia. Iran boasts longstanding historical ties with its neighboring nation Armenia, a relationship that continues to deepen over time.

The “Zangezur Corridor” project has sparked controversy, with differing reactions from involved parties.

In an interview with Sputnik Armenia, political analyst Suren Surenyants underscored Azerbaijan’s strategic advancements and their significant implications for Armenia. Surenyants indicated that Azerbaijan has effectively removed international guarantors from the equation and secured an international consensus regarding the contentious “Zangezur Corridor.” He cautioned that the signing of a peace treaty depends on resolving contentious issues for Baku, stressing President Ilham Aliyev’s persistent disregard for the red lines outlined by Armenia’s government.

Surenyants observed that Baku has strategically dismantled the role of international guarantors in Armenia-Azerbaijan negotiations and introduced a framework of bilateral talks without mediators. He highlighted the recent prisoner exchange, which was seen to be a result of direct talks between Armenia and Azerbaijan, as pivotal in securing support for the bilateral negotiation platform.

Expressing skepticism, Surenyants remarked that any meaningful peace agreement must incorporate border demarcation principles and territorial maps, elements presently opposed by Azerbaijan. He cautioned that the absence of demarcation principles in a peace agreement could effectively endorse the assimilation of Artsakh into Azerbaijan and legitimize the occupation of 200 square kilometers of sovereign Armenian territory by Azeri troops.

Surenyants suggested that the Armenian government’s approach to “sacrifice” Artsakh in order to persuade Azerbaijan to drop its claim to  the “Zangezur Corridor” has failed. He said that Armenia’s southernmost province Syunik became entangled in the Armenian-Azerbaijani conflict after Armenia’s defeat in the 44-day war, underlining Azerbaijan’s persistent aspirations toward Syunik.

Surenyants highlighted the escalating challenges facing the Armenian government, warning that 2024 may be a more strenuous year than the previous one.

Turkish Minister of Transport and Infrastructure Abdulkadir Uraloglu (Twitter)

Amidst these concerns, Secretary of Armenia’s Security Council Armen Grigoryan disclosed plans for a forthcoming meeting between Armenia and Azerbaijan’s border demarcation commissions, which Azerbaijan has stated is not a necessity for signing a peace agreement. “There is a scheduled meeting for the delimitation commissions towards the end of January. We are hopeful that the meeting will indeed take place,” Grigoryan said.

The forthcoming meeting follows the most recent session held between the border delimitation commissions of Armenia and Azerbaijan on November 30, 2023, along the Armenian-Azerbaijani border. During this session, both parties agreed on the procedural framework for organizing and conducting commission sessions and joint working gatherings. They also agreed to initiate efforts towards coordinating a draft regulation on the activities of the border demarcation commissions.

On January 6, the Armenian Foreign Ministry reiterated its support for a treaty based on the mirrored withdrawal of troops from the Armenian-Azerbaijani border. “Throughout the negotiations between Armenia and Azerbaijan, the Armenian side has consistently advocated for a mirrored withdrawal of troops from the interstate border between Armenia and Azerbaijan, a stance that remains unchanged,” the Foreign Ministry stated.

Emphasizing its readiness to engage in discussions to implement a treaty, the MoFA said that troop withdrawal should align with the latest maps from the General Staff of the Armed Forces of the USSR.

On January 10, Armenian Foreign Minister Ararat Mirzoyan suggested that progress on a treaty is stalled, because Azerbaijan refuses to recognize Armenia’s territorial integrity. He previously announced that Baku and Yerevan will hold discussions regarding Armenia’s proposal for troop withdrawal from the border. However, Baku rejected this initiative, leading to unresolved discussions between the two nations.

“I want to emphasize that these two issues—territorial integrity and inviolability of borders and border delimitation—are the issues where the Republic of Armenia cannot see and cannot allow any ambiguity, because any ambiguity is a basis and fertile ground for further aggressions and further escalations,” Mirzoyan said on January 10.

Hoory Minoyan was an active member of the Armenian community in Los Angeles until she moved to Armenia prior to the 44-day war. She graduated with a master's in International Affairs from Boston University, where she was also the recipient of the William R. Keylor Travel Grant. The research and interviews she conducted while in Armenia later became the foundation of her Master’s thesis, “Shaping Identity Through Conflict: The Armenian Experience.” Hoory continues to follow her passion for research and writing by contributing to the Armenian Weekly.


ANCA welcomes Congressional scrutiny of attacks on Jerusalem’s Armenian Quarter

WASHINGTON—U.S. House Foreign Affairs Committee member Joaquin Castro (D-TX) hosted a congressional briefing last week calling attention to escalating attacks by developers seeking to seize land from Jerusalem’s sacred Armenian Quarter to build luxury hotels, reported the Armenian National Committee of America (ANCA).

“We want to thank Representative Castro for shining a much-needed congressional spotlight on the escalation of violent attacks against Jerusalem’s Armenian Quarter – a central pillar of Christendom, a true treasure for all faith traditions,” said ANCA Executive Director Aram Hamparian. “It was encouraging to see such a broad array of legislators represented in this comprehensive Capitol Hill briefing on the legal, political and spiritual aspects of this crisis.”

The January 5 briefing featured testimony from Daniel Seidemann, a globally-respected Israeli lawyer and expert on Jerusalem; Hagop Djernazian, a leader of the Save The ArQ Movement defending the rights of the Jerusalem Armenian Quarter; and Karnig Kerkonian, a prominent U.S.-based attorney representing the community in the ongoing legal dispute over the land.

Over the past several months, Israeli developers have sought to seize land from the Armenian Quarter for private commercial real estate projects. On December 28, in the wake of civil society pushback from the indigenous Armenian community, an angry mob of masked men, apparently mobilized and directed by the developers, brutally attacked a dozen Armenians, including clergy.

The ANCA has called on U.S. Ambassador at Large for Religious Freedom Rashad Hussain to clearly and unequivocally condemn the ongoing efforts to intimidate Jerusalem’s historic Armenian Christian population in an X (formerly Twitter) campaign.

The Armenian Quarter is an integral part of the Old City of Jerusalem – with the Armenian presence in the city dating back to the 4th century AD, when, after Armenia became the first nation to adopt Christianity as a national religion, Armenian monks settled in Jerusalem.

The Armenian National Committee of America (ANCA) is the largest and most influential Armenian-American grassroots organization. Working in coordination with a network of offices, chapters and supporters throughout the United States and affiliated organizations around the world, the ANCA actively advances the concerns of the Armenian American community on a broad range of issues.


Armenia expects Greece’s support in strengthening relations with EU

 11:47,

YEREVAN, JANUARY 10, ARMENPRESS. Armenia and Greece have a rich bilateral agenda in all sectors, Armenian FM Ararat Mirzoyan said at a joint press conference with his Greek counterpart George Gerapetritis.

Mirzoyan said that Gerapetritis’ visit to Armenia was highly important in this period of time.

“The friendship between the Armenian and Greek peoples stems from the depth of centuries and millennia, the Armenian and Hellenic states closely cooperated in various times throughout history,” Mirzoyan said.

He added that Armenia and Greece built strong, friendly ties over the course of the past thirty years. “Our agenda is very rich in all sectors. Today’s meeting is a very good opportunity to address this agenda, to boost our relations, and advance our intensive political dialogue by covering numerous issues, ranging from the economy, security, defense to culture. We also outlined the actions and roadmap for this year on mutual high-level visits and events in various sectors. The meeting of the intergovernmental commission planned to take place in the first half of the year can have a very big role,” Mirzoyan said.

The Armenian FM thanked his Greek counterpart for supporting the development of Armenia-EU ties.

“We are really set to develop these ties based on the values we share in Armenia, in Greece, and in the EU. I am talking about democracy, human rights and other values. I expect future support from Greece in this process,” the Armenian FM said.

AraratBank attracts USD 5 million from EFSE to support MSMEs in Armenia

 11:21,

YEREVAN, JANUARY 10, ARMENPRESS. The European Fund for Southeast Europe (EFSE) reaffirms its commitment to fostering economic development in Armenia by providing a USD 5 million senior loan facility to its long-standing partner ARARATBANK. With this new facility, the partners aim to facilitate access to finance for micro-, small-, and medium-sized enterprises (MSMEs) and importantly those that are majority-owned or led by women and contribute to increased business competitiveness and inclusiveness in Armenia. ARARATBANK is a leading SME financier in the country with a proven strong track record in gender finance. EFSE’s investment will further solidify the Bank’s dedication to supporting women-owned or -led enterprises and promoting socio-economic empowerment and inclusiveness.

EFSE Regional Director Oxana Binzaru said: “We are honored to continue our journey with ARARATBANK, a trusted partner that shares our mission to foster economic development. This USD 5 million investment is a testimony to our joint commitment to supporting MSMEs, particularly women-owned or led enterprises, and making a meaningful impact on Armenia’s economic landscape.”

Mher Ananyan, Chairman of the Executive Board of ARARATBANK, concluded: “This strategic partnership reflects our commitment to fostering local economic progress and empowering MSMEs, which play a vital role in driving innovation, job creation, and overall economic stability. With the European Fund for Southeast Europe's expertise in financing and our bank's extensive network and resources, we are confident that this collaboration will have a significant impact on the business environment in Armenia."