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Premier: Armenia Hopes To Consolidate Relations With EBRD

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  • Premier: Armenia Hopes To Consolidate Relations With EBRD

    PREMIER: ARMENIA HOPES TO CONSOLIDATE RELATIONS WITH EBRD

    ARKA
    Dec 4, 2008

    YEREVAN, December 4. /ARKA/. RA Premier Tigran Sargsyan received the
    delegation of the European Bank for Reconstruction and Development
    (EBRD) on Thursday. The delegation members are head of EBRD Yerevan
    office Michael Weinstein, directors of the bank in a number of
    countries, representatives the European Investment Bank and European
    Community in Eurobank's Council of Directors.

    According to the governmental press-service, Premier Sargsyan expressed
    his assurance that the visit of EBRD delegation will contribute to
    bilateral solid and deep relations between Armenia and the Bank.

    Sargsyan noted despite earlier mentioned problems of implementing some
    EBRD programs in Armenia, large-scaled works have been carried out
    in the country to reach to a new level of cooperation with the Bank.

    Sargsyan attached high importance to cooperation with the private
    sector.

    Touching upon Armenia's priorities in collaboration with EBRD, he
    stressed enlargement of assistance to small and medium businesses,
    development of infrastructures, specifically of energy and road
    construction, assistance in forming free economic zones in the
    territories bordering on Zvartnots airport and the one in the city
    of Gyumri, as well as development of capital market.

    The Premier briefed delegation members on Armenia's current economic
    situation and programs for next year, the country's potential to
    resist =0 D world financial and economic crisis.

    He noted that Armenia's advantages are taken into consideration
    while developing and implementing crisis management activities
    and information on the country's stability and attractiveness for
    investments is supplied to the world community.

    The delegation members produced their stand in the issues touched upon,
    briefed on Bank's activities under world financial and economic crisis.

    Armenia became a member of EBRD on December 7, 1992, with â~B¬10mln
    of share.

    The Bank's portfolio in Armenia is over 100mln EUR this year, and
    EBRD intends to increase the sum by 60-70mln EUR.

    EBRD currently takes part in the capital of four Armenian banks,
    namely Byblos Bank Armenia CJSC, Armeconombank OSJC, ProCredit CJSC
    and Araratbank OJSC.

    EBRD is one of Armenia's largest investors and placed â~B¬202mln
    through realization of 52 programs.

    --Boundary_(ID_5jV2i4stFatFbLWrvJgyCQ)- -

    From: Emil Lazarian | Ararat NewsPress
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