ArmInfo. The Eurasian Development Bank (EDB) plans to increase investment in Armenia's economy to $500 million by the end of 2026, as announced by Yaroslav Mandron, Deputy Chairman of the Management Board of the Eurasian Development Bank, on December 18 in Almaty.
He stated that an agreement had initially been reached with the Armenian government in 2022 that EDB investment over the five-year period from 2022 to 2026 would be approximately $287 million. However, he noted that this turned out to be a very large sum, given the bank's previous experience working with Armenia. "In fact, our work from 2022 to 2025 showed that we've already invested $380 million. Compared to our targets, we've accomplished 1.3 times more in four years than we projected under our five-year strategy. Compared to the Bank's entire 15 years of operation in Armenia, that's more than 60%. Our goal is to reach half a billion US dollars in Armenia by the end of 2026. I believe this is an absolutely achievable result," Mandron said.
Speaking about the Bank's specific projects in Armenia in 2025 and plans for 2026, he emphasized that the EDB is focusing on three areas. "We have a large project with the Zangezur Molybdenum Plant (ZCMC) in terms of financing investment activities. We also had a good project in 2025 aimed at digitalization and optimization of the company's existing processes. We are pleased that we have combined two instruments: the Bank's classic loan product, plus our Digital Initiatives Fund, which is primarily aimed at supporting these kinds of digital projects. We have truly achieved a good project, a decent product based on a mix of different instruments," the Deputy Chairman of the Bank's Management Board stated. He added that the EDB has very ambitious plans with ZCMC for 2026, noting that this is the Bank's flagship project for the Republic of Armenia. He expressed hope that everything will indeed work out.
According to Mandron, the Bank has a separate plan to support small and medium-sized businesses in Armenia, with a budget of $20 to $40 million. " Next year we plan to spend on funding this block," the Bank's Deputy Chairman noted, asking what exactly sets apart Armenia from other countries that the Bank finances. "For example, 99% of the funds we allocate in Armenia are genuine investments directed toward the real sector of the economy. Plus, we have a Technical Support Fund, where Armenia is one of the leading countries in terms of where we allocate these grant instruments, the volume of which from 2022 to 2025 amounted to approximately $4 million," Mandron concluded.
