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EBRD EXPECTED TO INVEST IN THE ARMENIAN ECONOMY ABOUT 90 MILLION EUROS THIS YEAR
YEREVAN, October 22. / ARKA /. The European Bank for Reconstruction and
Development (EBRD) is expected to invest in the Armenian economy about
90 million euros this year, virtually as much as in 2012, according
to Mark Davis, the head of EBRD Yerevan Office, who told reporters
that the effectiveness of EBRD's investments in Armenia is very high.
Mr. Davis also said that cooperation with Armenian partners allows
EBRD to accelerate and facilitate all financing procedures as local
banks are familiar with the clientele base, have an understanding of
local market conditions and therefore their credit risks assessments
are quite reliable.
He said loans provided to clients through Armenian banks become much
more accessible and the fact that EBRD cooperates here with 12 banks
indicates the willingness of banks to cooperate.
Mr. Davis said the amount of 2014 financing has not been determined
yet, but the Bank will make every effort to finance implementation
of interesting projects.
Mr. Davis noted that the EBRD focuses on the financing of small
and medium-sized businesses, agriculture, services, construction,
manufacturing, mining sector and energy.
He said EBRD could provide finances to more agricultural projects
because it believes that agriculture is a very important sector.
The EBRD has been active in Armenia since the country's independence in
1991, and has, to date, invested over ~@652 million in 123 investment
projects. The Bank is focused on supporting the development of the
financial sector, with the aim of improving access to finance for
local enterprises, especially those operating in the rural regions
of Armenia. In 2013 the EBRD signed seven projects in Armenia,
for a total of approximately US$ 44 million. .-0- - See more at:
http://arka.am/en/news/economy/ebrd_expected_to_invest_in_the_armenian_economy_ab out_90_million_euros_this_year/#sthash.6f5VBRPW.dpuf
From: A. Papazian
YEREVAN, October 22. / ARKA /. The European Bank for Reconstruction and
Development (EBRD) is expected to invest in the Armenian economy about
90 million euros this year, virtually as much as in 2012, according
to Mark Davis, the head of EBRD Yerevan Office, who told reporters
that the effectiveness of EBRD's investments in Armenia is very high.
Mr. Davis also said that cooperation with Armenian partners allows
EBRD to accelerate and facilitate all financing procedures as local
banks are familiar with the clientele base, have an understanding of
local market conditions and therefore their credit risks assessments
are quite reliable.
He said loans provided to clients through Armenian banks become much
more accessible and the fact that EBRD cooperates here with 12 banks
indicates the willingness of banks to cooperate.
Mr. Davis said the amount of 2014 financing has not been determined
yet, but the Bank will make every effort to finance implementation
of interesting projects.
Mr. Davis noted that the EBRD focuses on the financing of small
and medium-sized businesses, agriculture, services, construction,
manufacturing, mining sector and energy.
He said EBRD could provide finances to more agricultural projects
because it believes that agriculture is a very important sector.
The EBRD has been active in Armenia since the country's independence in
1991, and has, to date, invested over ~@652 million in 123 investment
projects. The Bank is focused on supporting the development of the
financial sector, with the aim of improving access to finance for
local enterprises, especially those operating in the rural regions
of Armenia. In 2013 the EBRD signed seven projects in Armenia,
for a total of approximately US$ 44 million. .-0- - See more at:
http://arka.am/en/news/economy/ebrd_expected_to_invest_in_the_armenian_economy_ab out_90_million_euros_this_year/#sthash.6f5VBRPW.dpuf
From: A. Papazian