Saturday, January 16 2010 14:43

In 2010 EBRD to invest 85mln-100mln EUR in Armenian economy


ArmInfo. In 2010 EBRD will invest up to 100mln EUR in the Armenian economy - 18% more than in 2009, Head of EBRD Yerevan Office Valeriu Razlog said in an interview to ArmInfo. If EBRD fails to ensure the growth, it will keep up the level of the last year - 85mln EUR. Presently, the bank is analyzing the needs of its clients in Armenia. 1/3 of the financing will be provided via local commercial banks. EBRD will continue offering Armenian banks traditional products (loans for support of trade and SMEs) and hopes to take part in the capitals of new banks and existing clients.

Razlog says that EBRD expects Armenia to overcome the crisis, especially in the second half of 2010. The bank expects rising economic activity and growing demand in financing. This means that the role of the banking sector will grow. In 2009 EBRD increased its financing of the Armenian economy by 70%. EBRD has lent Armenia almost 330mln EUR since 1992.

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