Friday, November 26 2021 13:50

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.