EBRD: Armenia is visible on the investment map of the world

ArmInfo. Armenia has become visible on the investment map of the world. This opinion was expressed by Matteo Patrone, Program Coordinator of the European Bank  for Reconstruction and Development (EBRD) in the Eastern Europe and  the Caucasus region, answering a question from ArmInfo correspondent  during a briefing on the opening of the first unit investment fund in  Armenia, Amber Capital, on September 20.

, he said.

At the same time, the EBRD representative emphasized that there is  still a lot of work towards the development of the private sector in  Armenia. In this regard Patron, on behalf of the European Bank,  expressed his willingness to contribute, both in terms of financing,  advice, and participation in discussions of the government of the  country on policy development.

Recall that from the beginning of its activity in Armenia, EBRD  allocated ? 1.36 billion to the country's economy to implement 178  programs in the energy, infrastructure, financial and corporate  sectors. 90% of the Bank's investments are in the private sector.

According to the RA Statcommittee, the volume of total foreign  investments in the real sector of the Armenian economy grew by 7.9%  in 2018, amounting to $ 2.5 billion, while a year earlier the growth  was higher - 14.8%. In their structure, the volume of FDI declined in  2018. by 11.2%, amounting to $ 607.7 million, against a more modest  decline of 4.7% in 2017.