American Investmen’s to Increase in Armenia

WASHINGTON (Noyan Tapan)–The Overseas Private Investment Corporation is considering financing four American private investment projects in Armenia worth a total $300,000,000 within the next 2-3 years. Projects will be implemented in the energy–finance–agricultural and construction spheres–OPIC Director of Communications Lawrence Spinelli said.

The OPIC is a US Federal Agency which provides investmen’s–as well as insurance against political risks to small–medium–and large American companies.

Spinelli said that OPIC is considering the possibility of providing insurance against political risks to 13 private American investment projects worth a total of $300,000,000 that concern the energy–oil–gas–communications–tourism–production and mining industry.

Spinelli also said that within the next 2-3 months–a final agreement will be made on OPIC allocating a $18,000,000 credit to the American AK Development business group–which is the owner of the Armenia hotel in Yerevan. The credit is the first investment to be made by the OPIC in Armenia.

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