EBRD representative: We are ready to contribute to the further  development of Armenia

ArmInfo.On September 7, Minister of Finance of Armenia Tigran Khachatryan received Regional Director of the European Bank for Reconstruction and Development  (EBRD) for Caucasus, Moldova and Belarus Catarina Bjorlin Hansen and  Head of EBRD Yerevan Office Dmitry Gvintadze.

During the meeting, Minister Khachatryan noted that the EBRD is one  of the most important partners for Armenia, which is conditioned not  only by the financial component of cooperation, but also by the  philosophy that the organization brings to Armenia, thereby  contributing to development in both the private and public sectors.  According to the Minister, the level of cooperation with the EBRD is  quite high, and there are necessary prerequisites for the promotion  and effective implementation of all joint programs and ideas. He  highlighted the implementation of regional infrastructure projects in  cooperation with the EBRD and stressed the importance of steps to  promote the development of the capital market in Armenia.

The EBRD representative expressed the Bank's readiness to contribute  to the further development of Armenia and to be a part of this  process.

The interlocutors exchanged views on key areas of cooperation, in  particular, on infrastructure projects and their prospects. The  parties highlighted the current macroeconomic stability in Armenia in  terms of a favorable investment environment.

The EBRD is a leading institutional investor in Armenia and is active  in all sectors of the economy. Having started its activities in  Armenia in 1992, as of early June 2020, the Bank invested 1.36  billion euros in Armenia in 178 projects in the financial, corporate,  infrastructure and energy sectors, with 90% of investments made in  the private sector. As Head of EBRD Yerevan Office Dmitry Gvintadze  said at the 18th regular meeting of the Council for the Development  of Small and Medium Enterprises held on February 19, 2021, in 2020  the volume of transactions of the European Bank for Reconstruction  and Development (EBRD) in Armenia amounted to a record 160 million  euros, of which about 93% are in the private sector.