ArmInfo.In 2024, the volume of investments of the European Bank for Reconstruction and Development (EBRD) will be in an unprecedented amount - up to 500 million euros. Odile Renaud-Basso, the President of the European Bank for Reconstruction and Development (EBRD) stated on May 15 at the Annual Meeting of the Bank in Yerevan.
Thus, according to the EBRD President, the Bank has invested over 2,087 million euros in the Armenian economy in 210 projects. Over the past 5 years alone, the EBRD has invested EUR640 million in the country, 50% of which in the private sector, promoting its development, as well as improving infrastructure, renewable energy production and digitalization of rural areas.
As the head of the Bank indicated, the organization cooperates with both the public and private sectors. In general, the Bank's activities are based on 5 components. The first component concerns information technology, the second - the sustainability of the financial sector, the 3rd - the business environment, the 4th - the green agenda, and the 5th - regional communications.
As EBRD President stated, within two days 8 agreements on credit lines will be signed with the private sector of Armenia, one of which was already signed yesterday, with Acba Bank. In addition, an agreement on the development of the capital market in Armenia has already been signed
The Bank is also preparing to offer new projects for the employment of forcibly displaced persons from Artsakh (including through the development of small business infrastructure).
As part of the implementation of the "green agenda", the President recalled that Yerevan was one of the first to join the EBRD concept of "green cities". The goal of the concept, she recalled, is to encourage partnerships with local authorities to make "environmentally and climate-smart investments" in projects that reduce CO2 emissions. As part of the concept, a program for the purchase of natural gas buses for the Yerevan Municipality was implemented. According to the head of the Bank, the pilot program was successful.
In the field of renewable energy (RES), the EBRD financed the construction of a Masrik- 1, large solar power plant. As a result, carbon dioxide emissions will be reduced by 400 thousand tons. "We are ready to do more to implement the renewable energy agenda," said Odile Renaud-Basso. Regarding the 5th component of the Bank's activities, the President of the EBRD said that the war in Ukraine has increased the need to strengthen the ties between the South Caucasus, Central Asia and Europe to ensure the stability of international trade between Europe and Asia. This makes Armenia an attractive destination for international trade and investment, the EBRD President emphasized.
The 33rd Annual Meeting of the European Bank for Reconstruction and Development (EBRD) kicked of in Yerevan on May 14. The event, which will last until 16 May, will include an EBRD business forum Forum under the banner "Delivering Impact Together".
