YEREVAN, OCTOBER 13, NOYAN TAPAN. The Director General of the OPEC Fund for International Development Suleiman Al-Herbish and the delegation headed by him were received on October 13 by the RA Prime Minister Andranik Margarian. Underlining the importance of Armenia's cooperation with the OPEC FId, the prime minister said that although this cooperation does not have a long history, the start is quite promising, the agreement on encouragement and protection of invsetments signed between the sides in 2005 opens considerable opportunities for cooperation. Noting that our country already has much experience of efficient cooperation with international organizations, A. Margarian expressed confidence that the cooperation with OPEC will also be successful and will strengthen trust in Armenia in the international arena. In his words, our country highlights the problem of poverty reduction in rural areas, because despite the fact that every year the Armenian government is providing more and more resources for solution of the country's socioeconomic problems, there are still many problems in marzes (provinces), especially in mountainous communities. In this connection he welcomed the programs on development of rural areas and the agricultural sector with the assistance of international organizations, including the OPEC. Expressing his gratitude for a warm welcome given to the OPEC delegation in our country, Suleiman Al-Herbish said that he is impressed with Armenia's economic development indices and expressed his satisfaction over the efficiency of programs implemented in Armenia with the assistance of various international organizations, underlining that OPEC prefers to take an active part in the economic development of such a country. According to him, based on the agreement on loan of the program on economic development of rural areas signed within the framework of the above mentioned agreement, the fund already invested 5 million USD in 2006 as co-financing of the RA Program on Economic Development of Rural Areas. He said that these credit resources will be directed towards repairs of roads, irrigation systems, infrastructures and provision of gas supply of the 7 poorest mountainous marzes. He added that along with crediting state structures, the fund attaches great importance to assistance for the private sector. As he put it, the private sector's window already opened in the fund, and it is envisaged to implement new programs in the future. A. Margarian noted that investments to be made by the fund will greatly assist with the restoration and development of rural areas and the improvement of socioeconomic conditions of the Armenian population. At the conclusion of the meeting, the prime minister stated with confidence that the OPEC delegation's visit will be a new stimulus for further cooperation between the sides, and the Armenian government is ready to provide all possible assistance to this process. The OPEC Director General in his turn assured that programs of assistance to Armenia will be continuous ones, adding that negoatiations with the RA agriculture minister were successful and an agreement was reached on a new program of this type to be later submitted to the OPEC managing body for approval.

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