Japanese May Allocate $50 Million to Upgrade Yerevan’s Airport

South Caucasian Countries Exhibit Products and Services in Tokyo

YEREVAN (Armenpress)–An Armenian governmental delegation–led by Foreign Minister Vartan Oskanian left for Japan’s capital Tokyo to participate in the Japanese-Armenian economic cooperation commission’s joint session. Besides Oskanian–who is the chairman of the Armenian-Japanese commission–the delegation also includes the ministers of finance–trade and industry and other senior Armenian officials.

The joint session is expected to go deep into a number of business cooperation development programs–and will be funded by both the Armenian and Japanese sides. The Armenian delegation is scheduled to meet with officials of the Japanese International Cooperation Bank to look into prospects for developing and upgrading Yerevan’s Zvartnots Airport.

The Japanese bank has indicated that it is ready to allocate a $50 million loan for the reconstruction of the airport. The airport’s deputy director–Karen Mkhitarian–said that the final answer would be known on June 28–when the delegation returns.

Earlier–a team of Japanese experts from the Pacific Consulting International company were in Yerevan to examine the technical and economic potential of the airport.

Parallel to the session–an exhibition of products and services of the three South Caucasian republics will be on display. The exhibition’s main objective is to enhance the investment climate in the three countries.

The Armenian Finance and Economy Ministry said that the Japanese government is implementing a range of loan and grant projects in Armenia.

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