YEREVAN, February 4. / ARKA /. Sergey Ignatov was appointed new director of the Eurasian Development Bank (EDB) office in Armenia, the EDB said in a statement posted on its official website.

"In his new capacity Mt. Ignatov will be in charge of organization of  financing of large investment projects of EDB in Armenia", the statement says.

Sergey Ignatov is replacing Sergey Elizarov who held the position for four years and whose main task was to open an EDB office in Armenia and ensure its normal operation.

Sergey Ignatov was born in 1981 in Moscow. In 2003 he graduated from the Engineering and Economics Institute of the Russian Academy of Economics after Plekhanov with a degree in economy and management of urban development.

He joined EDB in 2008 where he held various positions.  Sergey Ignatov was involved directly in implementation of eight projects in Russia, Kazakhstan, Belarus and Armenia worth a total of 466 million U.S. dollars. In 2011, he was awarded a diploma of the EDB as the best employee of the Bank.

The Eurasian Development Bank is an international financial institution established by Russia and Kazakhstan in January 2006 to promote the development of market economies, their sustainable economic growth and the expansion of trade and economic ties. Its authorized capital exceeds U.S. $ 1.5 billion. The member states are Armenia, Belarus, Kazakhstan, Kyrgyz Republic, the Russian Federation and the Republic Tajikistan. -0-