YEREVAN, September 30. /ARKA/. Armenian prime minister Karen Karapetyan and Marc Oppenheim, head of International Retail & Commercial Banking at Credit Agricole S.A, discussed today in Yerevan prospects for implementation of investment programs in Armenia, the government press service reported.

Praising the activities of Crédit Agricol in the Armenian banking sector, Karapetyan stressed the importance of attracting new French investments in the Armenian economy.

"Our challenge is to improve the business environment. To this end we have revised the main function of our ministry of economy, whose main objective now will be to promote the business sector and bring new investment. Our team will always be open, we will be standing next to you in solving all possible problems," said Karapetyan.

The prime minister said when meeting with  representatives of the banking sector, he invites them to develop effective  SME lending mechanisms at the expense of available assets in their banks.

Karapetyan also stressed the importance of close cooperation of the French bank with the ministry of agriculture of Armenia, saying the latter is going to develop a new package of investment programs.
The prime minister expressed confidence that Crédit Agricole will be able to assist in bringing the French capital to Armenia.

In turn, Oppenheim said that today marks the 20th anniversary of ACBA-CREDIT AGRICOLE BANK’s activities. According to him, this is evidence of close bilateral relations and their desire to contribute to the improvement of the business environment in Armenia .

"One of the main keys to success is good relations between the government and investors. A government which is ready to assist the business community, will achieve development and ensure progress. We would like to become  ‘the ambassador’ of the French capital in Armenia," he said.

ACBA was established in 1996 as part of EU’s TACIS program. As a result of a long-term and mutually beneficial cooperation between ACBA Bank and the French Credit Agricole the latter became the biggest shareholder of ACBA in 2006, September. ACBA was restructured, becoming a closed joint stock company and was renamed ACBA CREDIT AGRICOLE BANK. -0-