Economy

WB to allocate $1mln to Armenia for internet access program

YEREVAN, February 23. /ARKA/. The World Bank (WB) will allocate $1mln to Armenia for preparing an Internet access program.

Bagrat Yengibaryan, Director of the Enterprise Incubator Foundation (EIF) reported that the RA Ministry of Economy and the WB are to sign a relevant agreement within a week, with the EIF to elaborate the program.

The core of the program is the approaches and models to be elaborated in the country to ensure the cooperation between the government and private sectors to improve Internet access, reduce prices and upgrade the quality, Yengibaryan said.

He pointed out that, despite an essential fall in the cost and much higher quality of Internet services, they are still at an unsatisfactory level.

Among the causes are mismanagement and Armenia’s geographical location, because of which very few cables can run through Armenia, Yengibaryan said.

He pointed out that the RA Ministry of Economy is taking serious steps. Specifically, it has elaborated an IT development strategy placing emphasis not only on the IT development, but also on the development of information community.

The concept provides for specific programs, including the ones of Internet access improvement and computerization.

Hovik Musaelyan, CEO, Synopsys Armenia, pointed out unsatisfactory Internet access in Armenia, which hinders the development of Armenian IT companies especially amid the global crisis.

He pointed out that the major obstacle is the quality of Internet services rather than their cost, which often endangers the implementation of projects. P.T. –0--

 

23/02/2009 20:06



Market USD exchange rates
Market EUR exchange rates
Market exchange rates 12/03/2010
Currency Symbol Unit Rate Changes
USA Dollar USD 1 392.62 1.21
Euro EUR 1 540.01 5.34
Russian Rоublе RUR 1 13.40 0.11

Favorable еxchange rates of banks 12/03/2010
Currency Buy Sell
USD 391.5
Armenian Development Bank
394
ACBA-CREDIT AGRICOLE BANK
Araratbank
Byblos Bank Armenia
Conversebank
ProCreditBank
“ArmSwissBank”
Euro 534
"VTB Bank (Armenia)"
ACBA-CREDIT AGRICOLE BANK
Ameriabank
Prometey Bank
“ArmSwissBank”
541
ACBA-CREDIT AGRICOLE BANK
Cascade Bank
“ArmSwissBank”
RUR 13.2
"VTB Bank (Armenia)"
Ardshininvestbank
BTA Bank
Prometey Bank
13.35
ProCreditBank

Macroeconomics
Indicator Term Figures
economic growth,% 2009-12 85.6
GBP, billion AMD 2009-12 3165.5
inflation, % 2010-01 101.7
Budget deficit (proficit), bln AMD 2009-12 148.3
trade deficit, mln USD 2009-12 -2606.4
foreign trade turnover, mln USD 2009-12 4001.9
foreign trade turnover, % 2009-12 73
Gross External Reserves, mln. USD 2009-12 2003.41
Monetary base, billion AMD 2009-12 511.7
Money supply, billion AMD 2009-12 815

Financial market
Indicator Term Figures
Anual interests on loans
Legal entities in AMD 2010-01 14.8
Legal entities in USD 2010-01 13.5
Individuals in AMD 2010-01 22
Individuals in USD 2010-01 17.6
Anual interests on deposits
Legal entities in AMD 2010-01 6.5
Legal entities in USD 2010-01 5.4
Individuals in AMD 2010-01 9.1
Individuals in USD 2010-01 5.3
Annual profitability
state stock of CBA, % 2008-08 8
fiscal stock of Armenia, % 2010-01 8.8

The percents of the CBA
Indicator Term Figures
Banking rate 2010-03 13
Repo 2010-03 6.5
Credit 2010-03 9.5
Depo 2010-03 3.5



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