YEREVAN, June 9. / ARKA /. In an interview with ARKA news agency, Valeriu Razlog, head of EBRD Yerevan Office, said since its inception here EBRD has committed a total of 400 million euros in aid to Armenia.

He said EBRD’s investments in 2011 are about 22 million euros, with most of the funding going to the banking sector of Armenia. Razlog said also EBRD expect its lending this year to grow to around 53 million euros.

‘We will continue to work with banks and are considering presently several projects in the private sector, which I think will be implemented before the end of this year,’ he said adding that EBRD is also working on a project designed to finance water infrastructure development. This project is currently under development, he said. EBRD opened its office in Armenia in 1994.-0-