YEREVAN, September 19. /ARKA/. Prospects for post-crisis recovery were outlined and social and economic development of Armenia discussed on Monday at a video conference that connected the Eurasian Development Bank’s offices in Moscow and Almaty with the World Bank’s offices in Washington, Moscow, Yerevan and Tbilisi, the press office of the Eurasian Development Bank reports.

Armenia is a member of both international banks and a member of the Eurasian Economic Community’s anti-crisis fund.

Participants of the conference also considered common ground for cooperation and room for elaboration of joint projects.

The Eurasian Development Bank was represented at the video conference by its analysts and Sergey Shatalov, deputy chairman of the bank’s board.

Speaking about the discussion, Shatalov said that the video bridge had become one of events of implementation of the preliminary agreement on cooperation between the World Bank and Eurasian Development Bank.

The World Bank was represented by Pedro Rodriguez, its chief economist for South Caucasus.

The World Bank is one of the most important sources of technical assistance for developing countries.

The WB consists of two development organizations belonging to 187 member countries – International Bank for Reconstruction and Development and International Development Association.

The aim of the International Bank for reconstruction and Development is to reduce poverty in mid-income countries and in solvent but low-income countries, while International Development Association focuses on poorest countries.

Eurasian Development Bank is an international financial organization established by Russia and Kazakhstan in January 2006 to promote development of its member countries’ economies.

The Eurasian Development Bank’s authorized capital amounts to more than $1.5 billion.

Its members are Russia, Kazakhstan, Belarus, Tajikistan, Armenia and Kyrgyzstan.-0---