The Armenian National Interests Fund’s (ANIF) equity is valued at 6 billion 883 million AMD (around USD 17.8m) and the net profit recorded over the past year is more than 1 billion 760 million AMD (around USD 4.6m).

ANIF reports that it has finalized audited financial statements for FY2022 which are available on its website.

“Amongst other highlights, since the launch of Armenia’s national carrier FlyArna, ANIF’s joint venture with Air Arabia, the value of our jointly owned airline has increased to just under USD 27m, providing significant value to ANIF’s sole shareholder, the Armenian State,” the news release reads.

ANIF’s CEO David Papazian noted that in just 3,5 years of its existence, during which Armenia went through major shocks, ANIF has posted a net profit.

“Our 200MW AYG-1 photovoltaic solar plant, a joint venture with Masdar of the United Arab Emirates, is expected to enter construction by the end of this year, providing further significant upside for ANIF. We look forward to continuing work with domestic and foreign partners to fuel and diversify Armenia’s economy,” he noted.