OREANDA-NEWS. August 30, 2010. President Serzh Sarsgyan met with Lars H. Thunell, Executive Vice President and CEO of IFC (International Finance Corporation). At the meeting discussed were issues related to Armenia’s economic development and enhanced cooperation with the IFC in consulting as well as investment areas.

Serzh Sargsyan welcomed Corporation’s greater involvement in our country and readiness to engage international experts to assist Armenia in developing the most promising spheres of economy.

The President stressed, in particular, importance of the IFC consulting services in the banking, energy, and mining sectors, as well as in the reformation of the business environment and simplification of the system of administration. He also said that Corporation’s participation in the concrete investment projects would also be very useful.

Speaking about the IFC’s more active involvement in Armenia and upcoming implementation of the programs, Lars H. Thunell assured that the results of those activities would soon become noticeable.

Note: The International Finance Corporation (IFC), is a member of the World Bank Group. Armenia is a member of IFC and its shareholder since 1995. In 1999, the Corporation started to provide consulting service in Armenia, and in 2000 the IFC started to implement investment projects. Until now, the Corporation has invested 87 million USD in 18 projects in different sectors of the Armenian economy. Priority areas for the Corporation are: assistance to small and medium enterprises, enhancement of energy efficiency to increase competitiveness of local companies and mitigate climate changes as well as assistance to the banks and companies to overcome consequences of the global economic and financial crisis.