Wednesday, October 19 2011 20:25

In spring 2012 EBRD will approve new assistance strategy for Armenia


ArmInfo. In Apr 2012 the European Bank for Reconstruction and Development will approve a new assistance strategy for Armenia for 2012-2015. Head of the EBRD Yerevan Office Valeriu Razlog said during a press-conference on Wednesday.

Member of the EBRD's Board of Directors Kurt Bayer said that the new strategy will not differ much from the previous one. The amount of financing will depend on the demand. He said that since Armenia is one of the EBRD's constant partners the bank is ready to prolong and enlarge its financing of its economy so as to make its companies self- sufficient.

Bayer said that in its further cooperation with Armenia the EBRD will focus on the private sector, which receives over 90% of the loans issued in the country. Priority will be given to micro, small and medium-sized business. The bank is also considering the possibilities of intensifying its activities in agriculture, processing and food industries and energy saving. Jointly with local municipalities the EBRD is going to implement projects in the fields of public transport, water supply and waste disposal.

Since 1992 the EBRD has lent over 450mln EUR for 100 projects in Armenia. It cooperates with ACBA-Credit Agricole Bank, Anelik Bank, VTB Bank (Armenia), INECOBANK, ArmSiwssbank, HSBC Bank Armenia, Converse Bank, Ameriabank, Armeconombank, Araratbank, ProCredit Bank and Byblos Bank.
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