Investment portfolio of EDB in Armenia reached $80 million

03.11.2011 14:53
Investment portfolio of EDB in Armenia reached $80 million

YEREVAN. November 3. /ARKA/. Investment portfolio of Eurasian Development Bank (EDB) in 2011 in Armenia reached $80 million, press-center of EDB informed ARKA News Agency.

According to the press-release, EDB provided credits to particularly to Ameriabank and Armbusinessbank by targeted programs for financing the development of small and medium-sized businesses under which total funding of $50 million received more than 40 small and medium-sized businesses.

In 2011 EDB provided trade funding by wheat import program amounting $30 million which significantly helped to facilitate negative consequences of world deficit of cereals for the economy of Armenia.

“From the moment of inclusion of Armenia in the composition of the Bank since April 2009, EDB conducts active work to identify and implement investment projects in the country which correspond to its mission and strategy”, said the Head of EDB Representation Office in Yerevan Sergey Yelizarov.

The main terms of participation of EDB in the projects are their economic stability in the development potential, modernization and increase of competitiveness of national economy of the country, as well as strengthening of its integration with other EDB participant-states.

Now perspective projects in such spheres as energy, production of agricultural products and consumer goods are in the process of discussion. Trade financing and micro-financing programs are also discussed.

EDB participates in the forth annual Russian-Armenian industrial exhibition “EXPO-RUSSIA ARMENIA 2011 on November 3 in Yerevan.

Eurasian Development Bank (EDB) is an international financial organization founded by Russia and Kazakhstan in January 2006 with the purpose of supporting market economy development of participant-states, their stable economic growth and expansion of mutual economic-trade relations. Charter capital of EDB exceeds $1.5 billion. Participant-states of the Bank are Russian Federation, Kazakhstan, Belarus, Tajikistan, Armenia and Kyrgyz Republic. —0—


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