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EBRD GOING TO PROVIDE $50-$100 MILLION INVESTMENTS TO THE BANKING SYSTEM OF ARMENIA
ArmInfo
2009-06-12 13:45:00
ArmInfo. European Bank for Reconstruction and Development is going to
provide $50- $100 million investments to the banking system of Armenia,
Head of the EBRD Yerevan Office Valery Razlog said at the general
assembly of shareholders of Armeconombank on Friday. 'Unfortunately
EBRD has no assets in terms of the national currency. We are currently
studying the possibility of raising these assets', he said. V. Razlog
said negotiations are currently underway with the Central Bank of
Armenia for this purpose. He did not dwell into details regarding the
reply from the Central Bank. EBRD representative said a not large fund
will be established and the investments will be first of all on-lent
to the banking system in terms of the national currency. V. Razlog
said potential borrowers may grow in number in the current year,
particularly, new banks will join the EBRD, as well as investments
may be made in the real sector of Armenia.
ArmInfo
2009-06-12 13:45:00
ArmInfo. European Bank for Reconstruction and Development is going to
provide $50- $100 million investments to the banking system of Armenia,
Head of the EBRD Yerevan Office Valery Razlog said at the general
assembly of shareholders of Armeconombank on Friday. 'Unfortunately
EBRD has no assets in terms of the national currency. We are currently
studying the possibility of raising these assets', he said. V. Razlog
said negotiations are currently underway with the Central Bank of
Armenia for this purpose. He did not dwell into details regarding the
reply from the Central Bank. EBRD representative said a not large fund
will be established and the investments will be first of all on-lent
to the banking system in terms of the national currency. V. Razlog
said potential borrowers may grow in number in the current year,
particularly, new banks will join the EBRD, as well as investments
may be made in the real sector of Armenia.