ArmInfo.. Trade Representative of Russia in Armenia Anna Donchenko and Authorized Representative of the Eurasian Fund for Stabilization and Development (EFSD) Armen Poghosyan agreed to conduct joint work aimed at developing and applying effective credit solutions for Russian investors.
According to the information of the Trade Mission of the Russian Federation in Armenia, the main topic of the meeting was the discussion of financing investment projects in Armenia and support for Russian exporters.
The authorized representative of the EFSD provided information on ongoing projects and existing instruments of the Fund. These are financial loans to governments to support budgets and balances of payments of member states, investment loans to member states or companies, as well as grants to finance government programs in the social sector.
The Trade Representative of Russia in Armenia spoke about the projects of the Trade Mission to support the export of Russian products to Armenia, noting the prospects for the further development of bilateral cooperation in various industries: metallurgy, energy, construction, food production, etc.
"As a result of the event, agreements were reached on joint work aimed at developing and applying effective credit solutions for Russian investors, as well as the agenda of the upcoming meeting of Russian businessmen in Armenia with members of the Mantashov Union," the Trade Mission said.
The Eurasian Fund for Stabilization and Development (the former EURASEC Anti-Crisis Fund) is a regional financial arrangement in the amount of US$ 8.513 billion established by Armenia, Belarus, Kazakhstan, Kyrgyz Republic, Russia, and Tajikistan to overcome negative crisis consequences, to provide long-run sustainability and to foster economic integration of EFSD member countries. The Fund provides the following assistance to the member states: financial credits for budget support and (or) balance-of-payments support, available to governments only; investment loans, provided either to EFSD member states or to companies; grants to finance government programmes in the social sector. The volume of the EFSD project portfolio in the Republic of Armenia is: for financial loans - 300 million US dollars; on investment loans - 190 million US dollars, of which 150 million US dollars in the direction of "Transport", 40 million US dollars - in the direction of "Agriculture". One investment project in the direction of "Agriculture" is under preparation, the estimated volume of the investment loan is US $ 25.2 million.