Retail giant Wildberries opens distribution hub in Armenia: THIS WEEK IN BUSINESS

A group of six Armenian banks agreed to loan $300 million to a public-private, Armenian-American partnership that plans to develop the country’s first data center.

Russian e-commerce giant Wildberries opened a massive new distribution center in Yerevan, saying the 250,000-square-foot facility could help boost local entrepreneurs.

Armenia is in preliminary talks with Chinese tech giant Huawei on developing energy storage plants in the country, according to the head of Armenia’s regulatory agency.

The World Bank agreed to loan Armenia $200 million to support ongoing efforts to attract more foreign investment and boost the country’s competitiveness on the global stage.