Thursday, June 20 2013 19:50

EBRD intends to invest 70-90 mln EUR in Armenia's economy in 2013


ArmInfo. In 2013 the European Bank for Reconstruction and Development is going to invest nearly 70-90 mln EUR in Armenia's economy, Head of the EBRD Yerevan Office Valeriu Razlog told ArmInfo.

He said that over Jan-May 2013 the EBRD and Armenia signed 5 projects worth 20 mln EUR. These projects are aimed at investing in the bank sector, as well as mining and food industries. Several more projects are being prepared for signing.

He added that the EBRD is also considering its possible joining the capitals of some enterprises.

The EBRD is one of the largest investors in Armenia, and the republic has been cooperating with the Bank since 1994. Since then the EBRD's investments in Armenia's economy have amounted to 620 mln EUR (94 mln EUR in 2012 alone). At present the EBRD has stakes in 4 Armenian banks' capitals. It implements a number of loan programs via the Armenian banking system.
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