A regular Cabinet meeting took place today, chaired by Prime Minister Nikol Pashinyan.

The Government has approved the measures for the grape procurement process for2023. Accordingly, it is proposed to implement a number of support measures. In particular, within the framework of the interest rate subsidy program for loans provided for the purpose of procurement of agricultural raw materials, it is planned to provide loans to grape harvesters from December 11, 2023 until December 30 under the following conditions: the part equivalent to 11 percentage point per year of the loan interest rate is subsidized, the principal amount of the loan provided to each borrower cannot exceed 4 billion AMD, the loans provided have a maximum repayment period of 60 months, the grace period for repaying the principal amount of loans will be calculated at least 24 months from the moment of granting the loan, the amount of the loan provided for procurement is calculated according to the contracts for the purchase of grapes, which were signed before October 15, 2023.

An exchange of ideas took place on the issue, issues related to improving the measures, increasing efficiency, conducting supervision, and ensuring the targetability of the provided support were discussed.

Summarizing the discussion, Nikol Pashinyan noted that there are big problems in the field of increasing the efficiency of agriculture. "We must be able to solve issues related to efficiency, we cannot solve them by simply giving money. During the discussions, including the reports of the regional administrations, everyone is very satisfied, for example, with the autumn wheat program, but when I ask how much money we gave and how much wheat we received, it turns out that the got the wheat in the amount of the money we gave. We operate with zero efficiency factor. That is, what new knowledge do we give, what new motivation do we give, what new value do we bring to the country? We fall into the same cycles again, this is a problem," said the Prime Minister.

The Government made a decision to allocate from the reserve fund to the Ministry of Foreign Affairs of Armenia an amount equivalent to 16,670,800 pounds sterling for the purchase of an office building for the Embassy of the Republic of Armenia in London. According to the substantiation, since 1992, the Armenian Embassy in the United Kingdom has been located in the building provided by the Armenian House in London, which informed the embassy about the need to vacate the area in 2024. The embassy occupies two small rooms in this building, which has always significantly limited the embassy's work opportunities. Since April 2023, the Armenian Embassy in the United Kingdom has been conducting negotiations for the purchase of real estate located at 31 A St. James Square in London. The real estate is located in the central part of London, in the vicinity of a number of embassies, the Royal Institute of International Relations, the UK Foreign Office, the UK Parliament and the Office of the UK Prime Minister, the Ministry of Defence, the Security Council and other government bodies with which the embassy is is in active contact. The building is located in one of the most presentable places in London, consists of 5 floors (with a basement - 6), has a reception hall. It should also be taken into account that London is one of the most attractive real estate markets in the world and the acquisition of real estate can be considered as a profitable long-term investment. The acquisition of the embassy building will promote cooperation between the countries, will contribute to the raising of Armenia’s reputation and will ensure the normal work of the embassy.

Referring to the adopted decision, Nikol Pashinyan noted. "I also read in the draft that the embassy was offered to leave the area. We wanted to get out of that area for a long time. It is true that I have not been there personally, but those who have been, tell me, and the photos I have seen, with all due respect and thanks to the people who provided that space, but, sorry, a self-respecting state cannot consider it an embassy. That's my opinion. Unfortunately, we have that problem in many places. My personal position has been that we should have proper embassies everywhere. It is incomprehensible that we are still in this situation in the UK."

According to the Head of the Government, we should face this reality and solve these issues one by one.

The Government made a decision to approve the urban development plan for the construction of the World Trade Center (WTC) and take part in the creation of World Trade Center Yerevan CJSC. This investment program was presented by Renshin LLC, which is planned to be implemented in the Saryan 22, building in Yerevan. The plan provides for the creation of conference halls for holding international forums, summits and other events; a cultural venue - a concert hall, exhibition halls for contemporary artists; an “EXPO” hall; a business center for start-ups, initiatives and business activities, a new tourist location.

The total estimated cost of the project is about 212 million USD. No less than 10,000 direct jobs will be created. Property taxes paid to the community budget will increase significantly.