ArmInfo.The Eurasian Development Bank (EDB) intends to increase investments in Armenia, EDB Country Director Armen Melikyan stated at his meeting with Armenia's Minister of Economy Vahan Kerobyan. Attending the meeting was also Denis Ilin, Vice- Chairman of the EDB Management Board, and Deputy Minister of Economy Narek Teryan.
The sides discussed the bank's large-scale investment programmes in Armenia, as well as the possibility of establishing a logistic center at the Upper Lars checkpoint, which is of strategic importance for Armenia. The sides discussed issues related to the Eurasian congress to take place in Sochi, Russia, this June.
Minister Kerobyan stressed the potential for cooperation and spoke of the projects that could be of interest to this international organization.
The Eurasian Development Bank (the "EDB" or the "Bank") is an international financial institution established to promote economic growth in its member states, extend trade and economic ties among them, and support integration in Eurasia through investment.
The Bank was founded by an international treaty signed on 12 January 2006. The member states of the Bank are Armenia, Belarus, Kazakhstan, the Kyrgyz Republic, Russia, and Tajikistan.
Armenia's share in the bank is 4.2291%.
Late last year, Mr Denis Ilin announced the EDB's intention to invest $100mln. Under its country strategy, the EDB planned $180mln investments for Armenia in 2022-2026.
"In fact, during the first year we invested about $100mln. That is, the amount of $180mln investments planned for five years will be exceeded this year," he said.
