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EBRD MAY INVEST $60-80 MLN. IN ARMENIAN ECONOMY IN 2012
PanARMENIAN.Net
July 19, 2012 - 22:11 AMT
PanARMENIAN.Net - In the framework of the strategy on Armenia,
European Bank for Reconstruction and Development (EBRD) intends to
invest about $60-80 million in the country's economy, head of EBRD
Resident Office in Yerevan said.
Valeriu Razlog attributed 93% of bank's creditors to the private
sector; with EBRD strategy for the years to come to be aimed at lending
in national currency, thus enabling the clients to avoid further risks.
"Several lessons have been reaped from the crisis. International
institutions faced the problem of incompliance of creditors' demands
to receive funds in national currency," he said, adding that lending
in the national currency remains rather expensive.
On July 19, Araratbank OJSC and European Bank for Reconstruction and
Development (EBRD) signed a loan agreement at the amount of USD 7 mln.
The document was signed by the bank's executive director Ashot Osipyan
and the head of EBRD Resident Office in Yerevan Valeriu Razlog.
PanARMENIAN.Net
July 19, 2012 - 22:11 AMT
PanARMENIAN.Net - In the framework of the strategy on Armenia,
European Bank for Reconstruction and Development (EBRD) intends to
invest about $60-80 million in the country's economy, head of EBRD
Resident Office in Yerevan said.
Valeriu Razlog attributed 93% of bank's creditors to the private
sector; with EBRD strategy for the years to come to be aimed at lending
in national currency, thus enabling the clients to avoid further risks.
"Several lessons have been reaped from the crisis. International
institutions faced the problem of incompliance of creditors' demands
to receive funds in national currency," he said, adding that lending
in the national currency remains rather expensive.
On July 19, Araratbank OJSC and European Bank for Reconstruction and
Development (EBRD) signed a loan agreement at the amount of USD 7 mln.
The document was signed by the bank's executive director Ashot Osipyan
and the head of EBRD Resident Office in Yerevan Valeriu Razlog.