Tuesday, December 11 2012 19:36

Eurasian Development Bank is considering the possibility of direct financing of real sector projects in Armenia


ArmInfo. The Eurasian Development Bank (EDB) is considering the possibility of direct financing of real sector projects in Armenia, Deputy Chairman of the EDB's Board Dmitry Zhurba told journalists on Tuesday.

He did not say what projects he meant. "Money loves silence," he said.

According to Zhurba, in Armenia the EDB acts through intermediates, mostly banks. "In 2012 we provided them with almost $80mln. Hopefully, next year we will start financing projects on a direct basis," Zhurba said.

The Eurasian Development Bank is an international financial institution founded by Russia and Kazakhstan in January 2006 with the mission to facilitate the development of market economies, sustainable economic growth and the expansion of mutual trade and other economic ties in its member states. EDB's charter capital exceeds US $1.5 billion. The member states of the Bank are the Republic of Armenia, the Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic, the Russian Federation, and the Republic of Tajikistan.
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