The RA government has signed a memorandum of understanding of 250 million dollars with the company “Lydian Armenia” and the Eurasian Development Bank. Armenia will receive 12.5% of the shares of the “Lydian Armenia” company in exchange for the operation of the Amulsar gold mine.
RA Minister of Economy Vahan Kerobyan announced that the funds would be used to complete construction works and purchase equipment. The government of Armenia will protect the insurer from certain risks, and the local authorities will receive 7 million dollars to support the company. According to Kerobyan, hundreds of jobs will be created, and Armenia’s GDP will grow by 1%.
The minister also referred to environmental concerns, “All the studies were done, and the company received all the necessary permits eight months ago,” said Kerobyan.
