ANIF attracted 84.6 billion drams in direct foreign investments

YEREVAN, January 8. /ARKA/. The Armenian National Interests Fund (ANIF) has attracted 84.6 billion drams ($210 million) in direct investments.

According to the press service of the Fund, of this amount $10 million were channeled into the Armenia's national airline Fly Arna, and $200 million into the "Ayg-1" solar power plant project.

ANIF also made investments in the domestic market through the program "Entrepreneur + State Anti-crisis Investments" in 2021-2023.

Thus, 7.8 billion drams were invested directly by ANIF, 900 million drams were co-invested by private partners, and over 1.9 billion drams were attracted from commercial banks.

ANIF was established in 2019 with a mandate to consolidate and effectively manage the ownership of Armenian state-owned enterprises, to promote export growth and investments in Armenia by providing co-financing in large-scale projects at their initial stage of development.

ANIF’s mission is to support and empower Armenia’s economic development potential.

ANIF press service reported in July that the Fund registered a net profit of AMD 1.76 billion or about $4.6 million in 2022, and during the four years of its existence implemented about a dozen joint investment projects with Armenian and foreign investors. -0-