Interview of Vice-President of “Sitronics” OJSC Sergey Urezchenko to Mediamax Agency and Itel.am portal

In May, 2009, President of “Sitronics” Company Sergey Aslanyan stated that to attract new technologic projects to the territory of Armenia, a Russian-Armenian Venture Fund was being set up. Mediamax turned to the Vice-President of “Sitronics” Sergey Urezchenko for details.

- At which stage is the project to set up the Russian-Armenian Venture Fund?

- At present, the process of coordinating financial liabilities of the sides is on. To attract private investors, one should gain tough financial liabilities from development institutions at the volume of no less than 20% of the total capitalization of the Fund. To this end, talks are held with the World Bank (WB) and UAE government jointly with the Ministry of Economy of Armenia. Talks are planned with the International Finance Corporation for August. For our part, we held talks with representatives of the Armenian Diaspora in America.

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