YEREVAN, March 31. /ARKA/. The Eurasian Development Bank is now making necessary preparations for lending $220 million to Armenia and Kyrgyzstan for implementation of four investment projects, Dmitry Pankin, chairman of the bank's board, said in an interview with Analytical Banking Magazine.

“It is decided to extend three investment loans amounting to 230 million to Armenia and Kyrgyzstan. Other four investment projects for these countries amounting to $220 million are at the preparatory stage now,” he said in his interview.

Asked if the bank considers room for extending loans in various countries in their national currencies given devaluation of the Russian ruble and breakaway from the dollar, Pankin said that the bank is dealing only with tenge, rubles and dollars so far.

He found the idea of extending loans in national currencies interesting saying that the current volatility at forex market just fuels interest in dealing with national currencies.

“But it is very important to ensure here mechanisms of refinancing of these projects in national currencies, and we will work in this direction,” the chairman of the bank said.

Eurasian Development Bank (EDB) is an international financial organization established by Russia (66% of authorized capital) and Kazakhstan (33% of authorized capital) in 2006 to help develop market economies and boost mutual trade ties in member states. The member-states are Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia and Tajikistan.  -----0----