Armenia and EBRD discuss ways to step up cooperation

10.02.2020 16:35
Armenia and EBRD discuss ways to step up cooperation

YEREVAN, February 10. /ARKA/. Armenian Economy Minister Tigran Khachatryan and an EBRD delegation, led by EBRD Vice President Pierre Heilbronn, discussed today ways to step up bilateral cooperation.
Khachatryan expressed satisfaction with the decision of the EBRD Board of Governors to hold the bank's annual meeting in Armenia in 2021.

Khachatryan spoke about the economic policy of the government, emphasizing the importance of
ensuring a level playing filed and transparency for all.

According to Khachatryan, the involvement of the EBRD in the economic life of the country is very important. The minister praised the EBRD for being involved in the opening of a private equity investment fund in the country with the assistance of the EU.

In September 2019, the European Union (EU) and the European Bank for Reconstruction and Development (EBRD) provided up to EUR 16 million to support the launch of the Amber Capital EU-Armenia SME Fund, a private equity fund seeking to raise a total of EUR 70 million for investment in small and medium-sized enterprises in Armenia.

According to Heilbronn, the decision to hold the 2021 annual meeting in Armenia is an excellent opportunity for both parties. He said Armenia in this context can expect the increased interest of the international investors.

The parties discussed also the development of the capital market as an infrastructure and a tool to increase competitiveness. According to Khachatryan, Armenia has great potential for change. The interlocutors also exchanged thoughts on technical equipment and increasing productivity in all sectors of the economy to stimulate investments in these sectors.

The EBRD is a leading institutional investor in Armenia, which has invested 1.4 billion euros in 180 programs since its inception here in 1992. -0-

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