April 4, 2012 -- Inspired by a steady demand for fresh milk and dairy products in Kotayk, a rural area in central Armenia, 31-year old Mamikon Yepremyan decided to start his own business. IFC’s $20 million loan last March
Armenia became a member and shareholder of IFC in 1995. IFC began providing advisory services in Armenia in 1999 and investing in 2000. Since then, IFC has invested $244 million in 40 projects across a variety of sectors and mobilized $9 million from other lenders, as of December 31, 2012. IFC Advisory Services provides advice through projects focused on regulatory simplification, food safety practices, sustainable energy finance, the financial sector, and corporate governance.
IFC Strategy in Armenia
IFC's strategy is part of the joint World Bank Group Country Partnership Strategy. IFC’s priorities here include supporting the development of small and medium enterprises to create employment opportunities, promoting energy efficiency to increase the competitiveness of local companies and mitigate climate change improve risk management to reduce their vulnerability to economic downturns.
Through a combination of investment and advisory services, IFC is:
Contributing to the growth of financial intermediation to expand access to finance to small and medium enterprises (SMEs);
Helping tap Armenia’s renewable energy potential and increase energy efficiency in the economy;
Promoting reforms to improve the business environment;
Supporting sustainable business practices at local enterprises.
We are continuously looking for opportunities to build on the success of our advisory services programs and investments in Armenia, and to increase the availability of long-term debt funding and equity investments to local enterprises in the real sector and financial markets.