Monday, October 29 2012 19:06
EBRD still abstains from joining Armenian non-financial organizations' capital
ArmInfo. The European Bank for Reconstruction and Development (EBRD) still abstains from joining Armenian non-financial organizations' capital. Head of the EBRD Yerevan Office Valeriu Razlog tells ArmInfo that the reason is not only the real sector specificity with all its complexity, but also the insufficient development of the capital market. Some difficulties arise when assessing a certain company and discussing the terms of joining the capital, he said.
As regards the EBRD's activities in 2013, Razlog said that the EBRD will pay more attention to a number of the financial market segments - small and medium enterprises, trade financing, supporting start-up companies, provision of energy-saving and agricultural credit lines. "Next year the Bank will continue providing its partners with loans in the local currency", he said.
In an earlier interview to ArmInfo Razlog said that banks are the most attractive borrowers for the EBRD as they allow it to finance SMEs. There is also a big potential in agriculture, mining, IT and high-tech as these sectors can ensure growth in jobs and exports.
The EBRD is one of the biggest investors in Armenia, with over 516mln EUR invested in 106 projects since 1992. By the end of this year the bank will invest in the Armenian economy some 70mln EUR more.
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