EBRD President: In the new strategy of cooperation with Armenia, an  important place will be given to projects for small and medium  enterprises

ArmInfo. Prime Minister Nikol Pashinyan received a delegation led by Suma Chakrabarti, President of the European Bank for Reconstruction and Development, the press service of Armenian Prime Minister reports.

Highly appreciative of the ongoing cooperation between the Armenian  Government and the EBRD, Nikol Pashinyan stressed the importance of  its furtherance. He noted that the EBRD's projects are of great  importance to the reforms initiated by the Government and the program  of economic revolution in terms of improving the business climate,  promoting the private sector's competitiveness, developing the  capital markets, and so on. 

The Head of Government expressed the hope that the amount of EBRD  investments would increase in the future, covering more diversified  sectors of the economy.

Nikol Pashinyan highlighted the importance of EBRD-supported programs  for small and medium- sized enterprises in our country, adding that  the Government's goal is to give new impetus to the development and  strengthening of business activities.  

Suma Chakrabarti noted that the EBRD is ready to provide continued  assistance to Armenia's new government, considering the latest  positive developments in domestic situation. The EBRD President noted  that the new strategy of cooperation with Armenia would feature  specific programs for small and medium-sized enterprises. On behalf  of the EBRD and on his own behalf, Mr. Chakrabarti expressed  readiness to support the Armenian reforms in both financial and  consultative terms.

The parties exchanged views on various issues related to enhanced  cooperation. Reference was made to EBRD's Annual Conference due to be  held this May.  

The European Bank for Reconstruction and Development (EBRD) was  established in 1991 after the end of the Cold War in order to build a  new era in Central and Eastern Europe. The EBRD invests in projects  that contribute to the transition to an open market economy, as well  as the development of private and business activities. The EBRD's  shareholders are 65 countries, the European Union and the European  Investment Bank.

The EBRD is one of the leading institutional investors in Armenia.  Since the start of EBRD activities in Armenia, namely, since 1992,  the bank has invested more than 1,241 million euros in 171 projects  in the financial, infrastructure, energy and corporate sectors of the  country. Moreover, about 84% of these projects are in the private  sector, an investment package of 310 million euros is in the process  of implementation.