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MICHAEL VINESTINE APPOINTED NEW HEAD OF OFIICE OF EUROPEAN BANK OF
RECONSTRUCTION AND DEVELOPMENT
YEREVAN, APRIL 5, NOYAN TAPAN. The chief banker Michael Winestine has
been appointed the new head of the Armenian office of the European
Bank of Reconstruction and Development (EBRD). His appointment is
indicative, among other things, of the bank's intention to find
the most efficient ways of working with the country with a high
potential and rich human capital. NT was informed from the EBRD
that M. Winestine has long experience in the field of developing
markets of Central and Eastern Europe, Latin America and the
CIS. Since his activities at the EBRD in 2000, he has participated
in infrastructure projects in Russia. Armenia is a key component of
the early transitional countries initiative which was launched by
the EBRD in 2004. The purpose is to promote market activities in the
7 poorest countries where the bank operates - Armenia, Azerbaijan,
Georgia, Moldova, Kyrghyzstan, Tadzhikistan and Uzbekistan. The
initiative envisages a simplified approach and broader scope of funding
mechanisms for involving the greater number of smaller projects with
the simultaneous allocation of more technical assistance grants and
the encouragement of market reforms. Among the transactions signed
by the EBRD some time ago in Armenia was the first agreement on
direct investment financing within the program on early transitional
countries, which was signed with the concern Shen, as well as the
agreement on direct credit financing with the company Maralik producing
textiles. The EBRD also maintains business links with 3 medium-size
Armenian banks - Armeconombank, Anelik Bank and ACBA.
RECONSTRUCTION AND DEVELOPMENT
YEREVAN, APRIL 5, NOYAN TAPAN. The chief banker Michael Winestine has
been appointed the new head of the Armenian office of the European
Bank of Reconstruction and Development (EBRD). His appointment is
indicative, among other things, of the bank's intention to find
the most efficient ways of working with the country with a high
potential and rich human capital. NT was informed from the EBRD
that M. Winestine has long experience in the field of developing
markets of Central and Eastern Europe, Latin America and the
CIS. Since his activities at the EBRD in 2000, he has participated
in infrastructure projects in Russia. Armenia is a key component of
the early transitional countries initiative which was launched by
the EBRD in 2004. The purpose is to promote market activities in the
7 poorest countries where the bank operates - Armenia, Azerbaijan,
Georgia, Moldova, Kyrghyzstan, Tadzhikistan and Uzbekistan. The
initiative envisages a simplified approach and broader scope of funding
mechanisms for involving the greater number of smaller projects with
the simultaneous allocation of more technical assistance grants and
the encouragement of market reforms. Among the transactions signed
by the EBRD some time ago in Armenia was the first agreement on
direct investment financing within the program on early transitional
countries, which was signed with the concern Shen, as well as the
agreement on direct credit financing with the company Maralik producing
textiles. The EBRD also maintains business links with 3 medium-size
Armenian banks - Armeconombank, Anelik Bank and ACBA.