YEREVAN, March 6. /ARKA/. Armenia’s investment climate is one of the most favorable ones in the EDB member countries, director of the Eurasian Development Bank Yerevan rep office Sergey Ignatov said.

The country’s stable macroeconomic situation, relatively high GDP growth along with low inflation, strengthening dram and other macroeconomic factors contribute to this, Ignatov said in his exclusive interview to ARKA Agency.

Ignatov said that Armenia has one of the best developed financial systems in the CIS owing to strict banking supervision policy pursued by the country’s central bank, the unified credit register, wide use of best international practices and relatively small market.

The banker also reminded that Armenia improved its position in the last Doing Business rating, having moved from 50th to 32nd (for comparison: Kazakhstan ranked 49th, Russia 112th) as it advanced the indices in three most important categories: protection of investors, taxation, connection to electricity networks.

This business environment is one of the best in the bank’s member states, Ignatov said.

The Eurasian Development Bank is an international financial institution established by Russia and Kazakhstan in January 2006. It aims to promote development of market economies, sustainable economic growth and extension of mutual trade and economic ties in its member countries.

The authorized capital stock of the bank exceeds $1.5bln, the member countries are Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia and Tajikistan.

EDB’s current investment portfolio in Armenia is $79mln. The bank’s investment portfolio, including the redeemed projects, reached $109mln by the end of 2012.–0--