Yerevan, Armenia, March 28, 2011—IFC,
a member of the World Bank Group, helped the Armenian government reduce
the number of procedures required for companies to obtain a construction
permit, The streamlined application process will save time and costs for
“The improved procedures will help
make the process for getting construction permits more transparent and
less costly, and also help boost development of the construction industry
in Armenia, which will support job growth,” said Thomas Lubeck, IFC Regional
Head for the Caucasus.
With advice from IFC, the
Armenian government amended the regulations governing the issuance of construction
permits. The new amendments are expected
to reduce the number of steps required from 20 to 7, and to cut the time
required to obtain a permit from an average of 137 days to 27 days.
A recent IFC report, Dealing with
Construction Permits in the Republic of Armenia, provided recommendations
on how to streamline the construction permit process. IFC presented the
report to the Armenian government in December 2010.
Based on IFC recommendations, the government
strengthened its risk-based approach to providing construction permits,
categorized buildings by risk, streamlined procedures for providing construction
permits for low risk buildings, and defined clear guidelines for the rejection
of construction permit applications.
The IFC Armenia Regulatory Simplification
– Doing Business Reform Project supports small and medium-sized businesses
by providing advice to the Armenian Government on improving the investment
climate. IFC is implementing the project in partnership with the Austrian
Ministry of Finance, Netherlands Ministry for Development Cooperation,
Luxemburg Ministry of Finance, and the Consortium of Commercial Promotion
Since Armenia became a member of IFC
in 1995, IFC has invested $110 million in 24 projects across the industry
spectrum including financial markets, general manufacturing, energy, mining
and chemicals. IFC Advisory Services provide advice through projects focusing
on the financial sector, sustainable energy, and regulatory simplification.
IFC, a member of the World Bank Group,
is the largest global development institution focused on the private sector
in developing countries. We create opportunity for people to escape poverty
and improve their lives. We do so by providing financing to help businesses
employ more people and supply essential services, by mobilizing capital
from others, and by delivering advisory services to ensure sustainable
development. In a time of global economic uncertainty, our new investments
climbed to a record $18 billion in fiscal 2010. For more information, visit
For more information about IFC’s partners, visit:
The Austrian Ministry of Finance: http://english.bmf.gv.at.
The Government of the Netherlands:
The Luxemburg Ministry of Finance:
The Consortium of Commercial Promotion
of Catalonia: http://www.acc10.cat/ACC1O/cat/