ArmInfo.Over the past two years, the EDB's portfolio in Armenia has grown several times, increasing by $150-200 million. Chairman of the Board of the Eurasian Development Bank (EDB) Nikolai Podguzov stated this on June 27 in Almaty within the framework of the Annual Meeting and Business Forum of the EDB in a conversation with journalists, touching on the Bank's new projects in Armenia and the prospects for the Republic's participation in the Eurasian Transport Framework project.
"In my opinion, from the point of view of participation in the Eurasian transport framework, Armenia is one of the key players. And as we say, routes are needed not only from west to east, but also from north to south. And a number of routes from north to south pass through Armenia. And here we will develop separate projects," Podguzov noted.
Regarding the Bank's projects in Armenia, the Chairman of the Board of the EDB drew attention to investments in the country's energy complex - the Hrazdan Thermal Power Plant, and in food security - the Yeremyan Project, as well as in industry and mining - the Zangezur Copper-Molybdenum Combine. At the same time, he added that a number of other projects are being discussed.
When asked to clarify what share of the planned 11 billion US dollars of investment from the EABL will go to Armenia, the Chairman of the EDB Board recalled that for each country there is a country strategy. "These 11 billion, of course, are distributed among all participants. In Armenia, we are ahead of the country strategy. We planned to finance 200-300 million dollars approximately until 2026, but we will reach these milestones by the end of 2024, beginning of 2025. Therefore, we will most likely increase the program," Podguzov concluded.
At the end of 2021, the EDB adopted the Development Strategy in the Republic of Armenia for 2022-2026. During Armenia's membership in the Bank since 2009, over 25 projects have been implemented here for a total amount exceeding $520 million in sectors such as agriculture, agribusiness, energy, transport and the financial sector. Projects in the mining industry are being considered.
