Consultation Held at the Government Under the Leadership of Nikol Pashinyan

Acting Prime Minister Nikol Pashinyan led a consultation at the government, during which the report on the activities of the Armenian National Interests Fund (ANIF) was discussed.

“When the fund was established, it was an innovation in our reality and a unique model of public-private partnership. We periodically revisit this topic to understand how effective and applicable this model is. Therefore, today is the time for yet another report. The fund was created in May 2019, and we need to discuss the results of two years of work,” stated Nikol Pashinyan at the beginning of the consultation.

David Papazyan, Executive Director of the Armenian National Interests Fund, presented the outcomes of the transactions carried out by the fund, explored opportunities for state-private sector collaboration within the framework of the strategy for Armenia's transformation up to 2050, and updated on ongoing efforts aimed at engaging large investment programs.

It was reported that in the energy sector, the establishment of the “Aig-1” solar photovoltaic plant with a capacity of 200 MW is underway, in cooperation with Masdar company. The project is estimated at $174 million. Papazyan expressed confidence that this large-scale project would contribute to the expansion of production capacities and the reduction of electricity tariffs.

It was noted that work is also in progress to implement new projects in the energy sector.

The Executive Director reminded that just days ago, a deal was signed with Air Arabia to establish a national budget airline. It is expected that the airline will operate flights to the Russian Federation, Eastern European, and Middle Eastern countries, providing citizens with high-quality services at the lowest possible rates. It is projected that within the next five years, the airline will station 15 aircraft at Yerevan's Zvartnots Airport.

During the reporting period, the fund has also engaged in several investment transactions with local companies, contributing to their development and expansion. The projects are being implemented in the fields of renewable energy, agriculture, healthcare, service provision, and tourism.

The next directions of the fund's activities include support for water and waste management systems. Proposed programs and initiatives in these areas were also presented.

Various questions, observations, and proposals regarding the report and the fund's future activities were raised. It was emphasized that ensuring maximum transparency and accountability in the activities of the Armenian National Interests Fund, attracting new investment programs, and effectively implementing ongoing projects are crucial.