Investment propositions of 420 million USD have been laid in environmental sector

10-02-2017

RA Minister of Nature Protection Artsvik Minasyan presented investment projects envisaged in nature protection sphere to the representatives of the mass media. Noting, that constructive actions of the RA Government are directed to encouraging and enhancing the investment programs in all fields as well as nature protection, Artsvik Minasyan stated, that the policy adopted by the RA Ministry of Nature Protection is focused on mobilizing financial resources and implementing target projects with the objective to conserve the environment. Three appliances will be practiced in order to address the issues.

According to the Minister, project proposals on environmental and environmental usage payments are presently considered to supervise completely to nature protection. '' As you know, payments of 70 million USD are annually formed in the state budget, though a small-scale is intended for realizing concrete programs to improve the environment. We prioritize the budget means transfer to environmental preservation projects, including investment project fulfilment in communities and specific territories aimed at advancing the environment both for the present and future generation thus making reasonable grounds for the development”. There are arrangements with a number of international organizations as well as Green Climate Fund /GCF/ within the framework of the aforementioned project and if we make this mechanism workable, they are willingly to allocate grants up to 50% of the money.

Additionally, debt for nature swap instrument submitted by the World Bank, having successful, international practice was considered primary in solving environmental problems. RA Minister of Nature Protection illustrated Japan and Germany; they convey a proposal according to which a defined portion of debt between the countries will be forgiven in exchange for environmental projects implementation.

The third key instrument is local investments, which can be effectively involved in environmental sector through conducting not only corporate social responsibility, constructive mining, but also concrete investment programs.

RA Minister of Nature Protection notified that propositions of over 420 million USD were made, including; investment, grant programs of about 185 million USD are being carried out. Ongoing or upcoming projects comprise approximately 11,5 million USD in 2017.

Artsvik Minasyan submitted the program scope and anticipated environmental, social-economic outputs as a result of their accomplishment.

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