YEREVAN, January 9. /ARKA/. The European Bank for Reconstruction and Development’s (EBRD) investments in Armenia in 2012 could reach approximately 80 million euros, Valeriu Razlog, head of EBRD Yerevan Office, said in an interview with ARKA news agency. He said the figure is very approximate.

“We do not set specific amounts of investments; it all depends on the willingness of our customers to attract resources from the Bank. I hope that in 2012 our investments in Armenia will be at least as much as in 2011,’ he said.

EBRD’s investments in Armenian economy last year amounted to 80 million euros. Mr. Razlog said cooperation with local banks is among EBRD’s priorities in 2012.

"We will also provide direct financing to private companies and will consider also projects designed to improve the municipal sector," he said, adding that the Bank may financee other sectors of the economy as well.

Mr. Razlog also stressed that the Bank is satisfied with the effective use of provided resources. He added that EBRD is willing to not only maintain but to increase the high level of participation in the financing of the Armenian economy.

Since its inception in Armenia in 1992 EBRD has invested a total of 470 million euros in Armenian economy, of which about 92% went to private sector. -0-