YEREVAN, November 12. /ARKA/. Armenia’s Deputy Minister of Finance Vahe Hovhannisyan has replaced Armen Hayrapetyan as new Deputy Plenipotentiary Representative of the country in the Board of the Eurasian Development Bank (EDB).

The Plenipotentiary Representative of Armenia in the EDB Board is Deputy Prime Minister Mher Grigoryan.

EDB is an international financial institution carrying out investment activities in the Eurasian space. Its shareholders are six states: Russia, Kazakhstan (founders), Armenia, Belarus, Kyrgyzstan and Tajikistan (participants).

The EDB's authorized capital is $7 billion. The main share in the EDB's portfolio are projects with  an integration effect in such areas as transport infrastructure, digital systems, green energy, agriculture, industry and mechanical engineering. In its activities, the Bank is guided by the UN Sustainable Development Goals and ESG principles.

The Republic of Armenia became a full member of the Eurasian Development Bank in April 2009. As of October 1, 2021, the EDB's investment portfolio in Armenia was estimated at $ 262.5 million (16 projects), about 2.5% of the total. --0--