Russia's VTB Bank recently announced plans to finance the construction of a downtown Yerevan guest complex in Armenia with apartments, office and retail space, restaurants and a fitness center.
The bank will provide the construction company--D&H Group--with approximately $19,500 to complete the project. The project is expected to be completed in 2016, ARKA reports.
The complex will reportedly create new jobs in both its construction and its operations, according to Yuri Gusev, the CEO of VTB Armenia.
VTB Armenia runs 67 branches throughout the country and is owned by VTB Bank, one of the leading universal banks of Russia. In 2011, VTB was ranked 236 on the FT Global 500 list. The bank was established in 1990, according to ARKA.
In 2007, D&H Group was established to implement the Dalma Plaza project. It was acquired by a group of companies in Logicon in 2013.
More Stories
- EUROPEAN INVESTMENT BANK: Bosnia and Herzegovina: EIB provides €340 million to advance works on northern part of Corridor Vc
- ABN AMRO SERVICES COMPANY: Fempower Your Growth: like tindering with female entrepreneurs
- EUROPEAN INVESTMENT BANK: Egypt: Team Europe - EIB and Banque Misr work together to support private businesses and speed up the recovery of SMEs from COVID-19
- ASIAN DEVELOPMENT BANK: ADB, NNS Sign Loans to Build Milestone Solar Power Project in Uzbekistan
- ASIAN DEVELOPMENT BANK: $123 Million ADB Loan to Help Build Elevated Walkways in Manila
- EUROPEAN INVESTMENT BANK: Germany: EIB provides €15 million of funding to IDnow
- ASIAN DEVELOPMENT BANK: CAREC Endorses Long-Term Strategy to Promote Safe, Sustainable, and Inclusive Tourism
- EUROPEAN INVESTMENT BANK: EIB Group provides €150 million to support artificial intelligence companies
- ASIAN DEVELOPMENT BANK: ADB Approves $430 Million to Help Rehabilitate Power Distribution Networks in Uttar Pradesh, India
- EUROPEAN INVESTMENT BANK: Greece: EIB backs EUR 470 million road safety scheme