Monday, July 31 2017 16:28
Emmanuil Mkrtchyan

EDB: The share of Armenia in II Q of 2017 accounted 2% of the approved investment and project loans of international development banks

EDB: The share of Armenia in II Q of 2017 accounted 2% of the  approved investment and project loans of international development  banks

ArmInfo. Eurasian Development  Bank (EDB) approved in the second quarter of 2017 for Armenia one  investment-project loan (IPL) for $ 20 million. One more loan for $ 4  million was approved for the country by the Black Sea Trade and  Development Bank (BSTDB). This is stated in the "Review of investment  activity of international development banks" published today. II  quarter of 2017>, prepared by the Office of Strategic and Industry  Analysis of the Eurasian Development Bank. In the share ratio,  Armenia accounted for 2% of the total amount allocated by the  international development banks for investment-project financing  (IPF).

According to the report, the largest amount of IPF in the second  quarter was approved for Kazakhstan - $ 759 million, then Ukraine - $  163 million, Belarus - $ 73 million. Azerbaijan will be provided $ 9  million, Kyrgyzstan - $ 5 million. Moldova, Tajikistan, Turkmenistan  and Uzbekistan in the II quarter have no approved projects IAP.

As for special sovereign loans, technical assistance and grants, in  the second quarter, loans from the Asian Development Bank (ADB) for $  1 million and EDB for $ 2 million were approved for Armenia. The  largest amount of sovereign loans was approved for Uzbekistan - $ 732  million, Tajikistan - $ 346 million, Ukraine - $ 153 million,  Kyrgyzstan - $ 44 million and Moldova - $ 25 million.

It is noted that in II Q, within the framework of sovereign loans,  ADB decided to provide Armenia with technical assistance in the  amount of $ 0.5 million from the special ADB technical assistance  fund for the project "Financial Market Development and Effective  Public Administration Program". Technical assistance in the  preparation of the project is aimed at assisting the government in  carrying out expert evaluation and evaluation of the project by  international and national consultants.

In turn, EDB approved the provision of $ 20 million  investment-project loan Ardshinbank JSC in the form of a revolving  credit line for a period of three years. The funds are intended to  finance the foreign trade operations of Ardshinbank's clients in EDB  member states. 100% of the loan will be used to finance export-  import transactions between the member states of the EDB. Funding can  be provided in US dollars, euros, Russian rubles or other currencies  of member states of the EDB. As sovereign loans, technical assistance  and grants, the European Bank for Reconstruction and Development  (EBRD) approved the allocation of $ 2.28 million to the Ministry of  Finance of Armenia for the construction of a new solid waste landfill  for the Kotayk and Gegharkunik regions from the Eastern European  Partnership for Energy Efficiency and the Environment (E5P) . The  funds will be provided in the form of a grant. They will contribute  to the construction of a new landfill that uses modern solid waste  management processes, which include municipal collection and removal  of solid waste. The program itself was launched in December 2014,  when the EBRD provided a loan of 3.5 million euros (equivalent to $ 4  million), which in turn was supplemented by a grant of 3.5 million  euros from the investment tool of the EU partnership.

In the line of investment and project loans and investments in the  capital, BSTDB approved the provision of $ 4.16 million to the  National Mortgage Company of Armenia. The loan will be provided in  national currency, secured by the placement of BSTDB bonds in the  amount of AMD 2 billion. The funds raised from the placement of the  bonds will be used to develop the mortgage market of Armenia,  including refinancing of mortgage loans and relevant financial  institutions based on the criteria agreed with the BSTDB.

In total, according to EDB  analysts, international development banks  (IDB) increased the volume of financing in the CIS countries in the  II quarter. 2017 by 125% compared with I quarter of 2017 - up to 2.36  billion US dollars. In total, in the II quarter of 2017, MDB approved  projects for financing in the CIS countries (Armenia, Azerbaijan,  Belarus, Kazakhstan, Kyrgyzstan, Moldova, Russia, Tajikistan,  Turkmenistan, Ukraine and Uzbekistan), of which 45% Compared with the  first quarter of 2017) - private sector financing, 55% (1.6 times  growth compared to Q1 2017) - sovereign financing (involving  government agencies).

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