Written question asked by Lloyd Russell-Moyle (Labour) on Monday, 2 September 2019, in the House of Commons. It was due for an answer on Thursday, 5 September 2019 (named day). It was answered by Christopher Pincher (Conservative) on Thursday, 5 September 2019 on behalf of the Foreign and Commonwealth Office.

Armenia: Gold

Question: To ask the Secretary of State for Foreign and Commonwealth Affairs, with reference to the statement made by the former Ambassador of the United Kingdom to Armenia, as reported in the press release of Geotim Company, published 26 June 2013, that Amulsar is the biggest British investment in Armenia, what level of contribution from the public purse has been invested directly or indirectly in Amulsar; and whether his Department has made an assessment of the merits to UK interests of that investment.

Answer: No direct investment from the British public purse has been made in the Amulsar mine project in Armenia, owned and operated by Lydian International Ltd. Both the European Bank for Reconstruction and Development (EBRD) and the International Finance Corporation (IFC) have invested in Lydian in the past. As a member of those two international financial institutions, the United Kingdom’s overall financial contribution is channelled to their investments in countries where they operate. The United Kingdom’s membership and support for international financial institutions helps advance sustainable and inclusive growth in developing economies.

Secondary information

Type: Written question
Reference: 285002
Session: 2017-19
Related items: Armenia: Gold
Monday, 13 January 2020
Written questions
House of Commons
Subjects: Armenia Mining Overseas investment Gold
Contains statistics: Yes
Link: View this Written question on www.parliament.uk