ArmInfo.This year, the Eurasian Development Bank (EDB) has launched projects worth a total of $100mln in Armenia, Denis Ilin, Vice Chairman of the EDB Management Board, stated at the 8th mass media contest Eurasian Integration and Development.
The projects have been launched as part of the Armenia Strategy priorities - assisting sustainable infrastructure development, ensuring food security and making financial services available to SME.
Three large-scale projects have been implemented: the construction of 11 solar-power stations with a total capacity of 55MW in Gegharkunik and Aragatsotn, modernization of a plant and development of full agricultural production cycle, particularly, the construction of a dairy farm and a pig farm, enlargement of agricultural lands and asset modernization.
"Our bank has allocated $99mln to the country - a rather serious contribution to economic development," Mr Ilin said.
The 5-year programme has a $180mln budget, but the bank has utilized $100mln during the first year.
"It is most essential for Armenia in the context of our activities. But the most important thing is to show Armenia's government and market our willingness to invest in the projects of importance to the country. It is gratifying that projects of this scale have been implemented within this period. But more important is that the bank is receiving numerous requests from Armenia - both from the government and from private businesses. The estimated budget is $180mln, but next year will see over $100mln investment. We have very interesting projects," Mr Ilin said.
Armenia became a full member of Eurasian Development Bank in April 2009. Its contribution to the Bank's capital is US $100,000.
By November 1, 2022, the EDB had implemented 22 projects worth a total of $461.9mln - 3.5% of the total volume.
The current investment portfolio is US $4.9bln. The cumulative investment portfolio (including completed projects) is US 13.1bln. At present, the EDB is financing 90 investment projects in six member states.
