Friday, May 12 2017 13:54

ArmInfo. Vache Gabrielyan, the Vice Prime Minister,  the Minister of  Economic  Development and Reforms, his Advisor Raphael Avetisyan  and  Armenan Central  bank Chairman Arthur Djavadyan participated in the  annual meeting of European Bank of Reconstruction and Development  (EBRD) held in Cyprus on May 9-11. 

According to the information shared with ArmInfo at the press office  of Armenian Government, the issues of economy and finances were  discussed during the session mentioned. The priority sectors  development plans were adjusted as well. 

Meanwhile, according to RIA Novosti, during the meeting Armenia  together with Belarus. Kyrgyz Republic and Mongolia, supported the  position of Russia. " It is very important that many countries  did  not participate to voting. Azerbaijan and Uzbekistan withheld their  votes  in public, and Belarus, Kyrgyzia, Armenia and Mongolia  supported the position of Russian Federation, " the RIA Novosti   source reads. To remind, in 2014 EBRD shareholders announced the ban  in respect to new  projects funding in Russia due to the complication  of geopolitical situation, as well as because of the  bans  implemented by USA and Europe.  On May 10 Russia raised an issue of  unacceptability of funding rejection by the bank, bu the majority of  bank members voted for the decision of Bank being legitimate. 

To remind, EBRD is the institutional investor in Armenia. From the  very beginning of EBRD activities in Armenia in 1992, and by now,  over EUR 1.13 bln has been invested in the implementation of various  projects in financial, corporate eand energy sectors.