ArmInfo.. The RA Ministry of Finance, the Eurasian Development Bank (EDB) and the Analytical Credit Rating Agency (ACRA) signed a tripartite Memorandum of Understanding. The document was signed by RA Finance Minister Tigran Khachatryan, EDB Management Board Chairman Nikolay Podguzov and ACRA Agency General Director Mikhail Sukhov.
As the press service of the RA Ministry of Finance reports, within the framework of the memorandum, the parties determine the following areas of cooperation: assigning a sovereign credit rating to the Republic of Armenia, ensuring the availability of rating services, including assessing the credit rating of companies- residents of the RA financial market by ACRA credit ratings, assigning credit ratings to bonds issued in the RA on favorable terms within the framework of the EDB cooperation programs.
At the end of the event, Minister Khachatryan assessed the numerous joint programs implemented with the Eurasian Development Bank as productive. He expressed readiness to deepen cooperation with the Bank.
In turn, Nikolay Podguzov noted that Armenia and the EDB have many years of experience of successful cooperation, within the framework of which many joint programs and initiatives have been implemented. He welcomed the steps taken by the Armenian government to improve the business environment and encourage private investment, as well as short and long term action plans in the current economic situation.
The Eurasian Development Bank (EDB) is an international financial organization that promotes the integration and development of the participating countries: Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia and Tajikistan. The authorized capital of the EDB is US $ 7 billion. The bank was founded in January 2006 and is headquartered in Almaty. The main share in the EDB portfolio is occupied by projects with an integration effect in the areas of transport infrastructure, digitalization, green energy, agriculture, industry and mechanical engineering.
Russian Analytical Credit Rating Agency (ACRA) was established in 2015. ACRA's main task is to provide financial market participants with high-quality rating and analytical products. The total amount of the authorized capital is 3 billion rubles, 27 shareholders. ACRA assigns credit ratings to various categories of issuers and issues; Banks and other financial institutions; Corporate sector organizations (including SMEs); Regional and municipal authorities of the Russian Federation; Structured financial instruments; Sovereign issuers; Issuers, instruments and commitments of project financing. On April 24, 2019, ACRA announced the opening of a branch in Kazakhstan at the site of the Astana International Financial Center (AIFC), a financial hub for Central Asia, the Caucasus, the Middle East, Western China, Mongolia and Europe. ACRA became the first credit rating agency to receive a license from the AIFC Financial Services Regulatory Committee (AFSA).
