Washington, June 3, 2024 — The World Bank’s Board of Executive Directors has approved $40 million in financing to support Armenia’s Energy Transition Project, which will help implement the Republic of Armenia’s Energy Sector Development Strategy through 2040. The investments will primarily focus on rehabilitating electricity transmission substations, implementing reforms that will enable the national transmission company to access private financing, and promoting the modernization of the energy sector as well as regional energy cooperation among emerging and developing economies across the Europe and Central Asia region.

After spending several months under the ownership of Charles Beigbeder, this unique property in Paris’s 16th arrondissement has changed hands once again.

From October 19 to 23, the international food and beverage exhibition “Sial-2024” will take place in Paris, France.

The prestigious Singaporean publication “In Diplomacy 2024” has highlighted the investment appeal of the Republic of Armenia, presenting Armenia as an attractive destination for investors. The article emphasizes that Armenia is now regarded as a hub of investment opportunities on the global stage, thanks to its remarkable economic growth and investor-friendly environment.

On May 22, a $3 million grant agreement was signed for the “Climate-Resilient Adaptive Food Security Enhancement Program” (CAFSEP).

The low-cost airline Transavia is launching direct flights between Yerevan and Lyon, France, starting on April 12. Flights will operate once a week, on Saturdays. Round-trip fares start from €205. Transavia also operates flights connecting Yerevan with Paris and Marseille.

Profpanel is investing approximately 13 million dollars in the production of solar batteries in Yerevan: the Armenian government has exempted the company from import duties within the framework of the investment project. The funds will be directed toward the purchase of raw materials. It is planned to create new jobs with salaries ranging between 450,000 and 600,000 drams.

La Guilde, through its Microprojects division, is launching a call for development microprojects with the support of the French Development Agency, specifically tailored for Armenia following the arrival of over 100,000 displaced persons from Artsakh in Armenia.

The Armenian applications Picsart and Sololearn have entered Apple’s ranking of the 7 most popular applications of the year featuring artificial intelligence (AI) integration.

The students from UFAR arrived this Friday, January 12, 2024, in Marseille! The CCIFA-France welcomes them and places them in Marseillais companies for a 7-week internship. Welcome to this wonderful youth—they are the future business leaders of Armenia! Have a great stay in Marseille, everyone!