Yerevan/Mediamax/. International Finance Corporation (IFC) almost doubled its commitments in Armenia in 2011 fiscal year.

“After IFC’s record commitments in Armenia in the previous fiscal year, we almost doubled our commitments in fiscal year 2011, creating opportunities for development of the private sector across various sectors,” said Thomas Lubeck, IFC Regional Head for the Caucasus, adding that “We are constantly seeking new investment opportunities in the financial and real sectors”.

IFC committed around USD70mln in Armenia in the fiscal year ending June 30, 2011.

IFC’s investment portfolio in Armenia is about USD102mln of debt and equity investments.