EBRD: Business environment and level of development of Armenia`s  financial system create an attractive basis for deepening cooperation  with the Central Bank of Armenia

ArmInfo. The business  environment and the level of development of Armenia's financial  system create an attractive basis for further deepening of  cooperation with the Central Bank of Armenia. This was stated during  the meeting of the delegation of the regional directors of the  European Bank for Reconstruction and Development (EBRD) with the  Chairman of the Central Bank of Armenia Artur Javadyan.

As the press service of the Central Bank reports, the guests highly  appreciated Armenia's advancement in the financial sector in recent  years, stressing in this case the efforts of the Central Bank aimed  at financial stability and development. In particular, they stressed  the high level of professionalism of the Armenian Central Bank and  the effectiveness of the Central Bank's actions aimed at financial  stability in the light of the latest political developments in  Armenia.

In his turn, A. Javadyan, appreciating the results of the long-term  cooperation with the EBRD, noted that starting from the first day of  the launch of the activity in Armenia, the Eurobank has a big role in  the process of stimulating the stable development of the Armenian  economy by investing in the real sector, in particular, agriculture,  energy , transport, municipal and environmental infrastructure,  telecommunications and, of course, the financial sector. The Head of  the CBA expressed hope that the EBRD will continue to include Armenia  in its regional strategic programs, declaring its readiness to  continue bilateral cooperation in the same constructive style.   According to the report, representatives of the Central Bank  presented their policy aimed at price stability and financial  stability, basic tools and registered indicators. The sides exchanged  views on the implementation of joint programs.

We would like to remind that EBRD is an institutional investor in  Armenia. Since the launch of the EBRD in Armenia, in particular since  1992, over 1.13 billion euros have been invested in the  implementation of 157 programs in the financial, corporate,  infrastructure, and energy sectors. Moreover, 88% of these  investments were directed to the development of private  entrepreneurship.