ArmInfo. The Eurasian Development Bank (EDB) and ARMSANPRODUCT LLC signed a loan agreement in Yerevan providing financing for the establishment in Armenia of a semi-closed greenhouse complex for year-round cultivation of tomato with an area of 53.4 hectares and a seedling department of 6.6 hectares.
As reported in the EDB report received by ArmInfo, in accordance with the document, the bank provides a non-revolving credit line for $ 67 million for a period of 10 years.
"The main markets for agricultural products in Armenia are the countries that are members of our bank, Russia first of all. Therefore, of course, we could not ignore the project with such integration potential. In addition, I would like to remind you that in the strategy of the EDB until 2022, the agro-industrial complex is one of the target industries, "said the head of the Eurasian Development Bank Project Block Vsevolod Smakov.
To recall, in June 2017, the Armenian government donated 163.2 hectares of land to the interconnected companies Spayka and Armsanproduct. According to official information, the planned investments of companies in the construction of the greenhouse complex and the production of cheeses in this area will amount to more than $ 200 million. It is planned to export about 60 thousand tons of ecologically clean vegetables per year.
To recall, today another loan agreement was signed between the Eurasian Development Bank (EDB) and Electric Networks of Armenia (ENA) CJSC on refinancing current credit liabilities and financing the current operating activities of Electric Networks of Armenia CJSC.
The Eurasian Development Bank (EDB) is an international financial institution established by Russia and Kazakhstan in January 2006 to promote the development of the market economy of the participating states, their sustainable economic growth and the expansion of mutual trade and economic ties. The authorized capital of the EDB is $ 7 billion. The Bank's member states are the Republic of Armenia, the Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic, the Russian Federation and the Republic of Tajikistan.