Lincy Foundation to Allocate $20 Million for Tourism Development

YEREVAN (Armenpress)–Armenia’s trade and industry minister Karen Chshmaritian told Armenpress that the US-based Lincy Foundation–set up by American Armenian billionaire Kirk Kerkorian is considering release of a $20 million loan that would aid the tourism development in Armenia. A credit agreement with the Armenian government is most likely to be signed September 2000.

The sum will go to finance different business projects on developing the tourism infrastructure in Armenia. According to the minister–the newly created Fund for Tourism Development is most likely to administer the project.


Discussion Policy

Comments are welcomed and encouraged. Though you are fully responsible for the content you post, comments that include profanity, personal attacks or other inappropriate material will not be permitted. Asbarez reserves the right to block users who violate any of our posting standards and policies.