YEREVAN, March 15. /ARKA/. Armenian government welcomes Eurasian Development Bank’s intention to open its office in Armenia.

Levon Shahverdyan, deputy energy minister, speaking Thursday at a governmental meeting, said Armenia expressed wish to join the bank and became a member of the bank yet in 2008, and in February 2009, Armenian National Assembly ratified this agreement.

Arthur Javadyan, chairman of the Central Bank of Armenia, who spoke at the same meeting, said that the Eurasian Development Bank will carry out all financial operations here, including attraction of deposits from legal entities.

No particular date has been set for opening the office.

Armenia has submitted eight credit programs totaling $500 million to the Eurasian Development Bank.

There are also large, medium and small projects intended for chemical and energy sectors among these programs.

Eurasian Development Bank was established on January 12, 2006 in Astana, Kazakhstan.

The bank started functioning on June 16, 2006.

Eurasian Development Bank is an international organization.

The bank was established with authorized capital of $1.5 billion, of which $1 billion was Russia’s and $500 million Kazakhstan’s. ---0---