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Interfax, Russia
September 20, 2013 Friday 10:42 AM MSK
EBRD welcomes Armenia's decision to join Russia-led Customs Union
YEREVAN. Sept 20
Armenia could genuinely benefit from joining the Customs Union of
Russia, Kazakhstan and Belarus, including because of a possible
reduction in prices for Russian natural gas, the European Bank for
Reconstruction and Development's regional director for the South
Caucasus, Moldova and Belarus, Bruno Balvanero said at a press
conference on Thursday.
He said Customs Union countries have the same tariff on natural gas,
and this is one of the privileges of membership in this organization.
This will have a positive impact on the Armenian economy and help curb
inflation, Balvanero said.
However, it is still early to talk about the specific economic
benefits of joining, since the country has just made the decision and
only begun negotiations, he added.
The price of Russian gas in Armenia rose to $270 per 1,000 cubic
meters on April 1, 2013 from $180 earlier.
Balvanero also said that the new head of the EBRD's Yerevan office
will be Mark Davis, a former executive director at Goldman Sachs from
2010 to 2012 and Morgan Stanley from 2007 to 2010.
Davis told reporters that the EBRD's priorities in Armenia will remain
infrastructure projects, agriculture, stimulating exports, energy,
industry, as well as the banking sector, where there is a lot of work
to do.
The EBRD has provided more than 656 million euros in financing for 120
projects in Armenia. In 2012, the bank signed agreements for another
15 programs totalling 94 million euros.
Vp ak
September 20, 2013 Friday 10:42 AM MSK
EBRD welcomes Armenia's decision to join Russia-led Customs Union
YEREVAN. Sept 20
Armenia could genuinely benefit from joining the Customs Union of
Russia, Kazakhstan and Belarus, including because of a possible
reduction in prices for Russian natural gas, the European Bank for
Reconstruction and Development's regional director for the South
Caucasus, Moldova and Belarus, Bruno Balvanero said at a press
conference on Thursday.
He said Customs Union countries have the same tariff on natural gas,
and this is one of the privileges of membership in this organization.
This will have a positive impact on the Armenian economy and help curb
inflation, Balvanero said.
However, it is still early to talk about the specific economic
benefits of joining, since the country has just made the decision and
only begun negotiations, he added.
The price of Russian gas in Armenia rose to $270 per 1,000 cubic
meters on April 1, 2013 from $180 earlier.
Balvanero also said that the new head of the EBRD's Yerevan office
will be Mark Davis, a former executive director at Goldman Sachs from
2010 to 2012 and Morgan Stanley from 2007 to 2010.
Davis told reporters that the EBRD's priorities in Armenia will remain
infrastructure projects, agriculture, stimulating exports, energy,
industry, as well as the banking sector, where there is a lot of work
to do.
The EBRD has provided more than 656 million euros in financing for 120
projects in Armenia. In 2012, the bank signed agreements for another
15 programs totalling 94 million euros.
Vp ak