Armenia creating favourable environment for Eurasian Development Bank’s presence here

Banks

YEREVAN, July 20. /ARKA/. Armenian Constitutional Court announced Tuesday that the agreement signed between Armenia and Eurasian Development Bank on April 27, 2010 on environment for the bank’s presence in Armenia is in tune with the Constitution of Armenia.

The agreement specifies the status, advantages and preferences for the bank’s activity in Armenia.

The Eurasian Development Bank was found by Russia and Kazakhstan on January 12, 2006.

The bank started functioning in June 2006.

Its authorized capital formed at the account of member countries amounts to $1.5 billion now.
Russia’s share in the authorize capital is $1 billion, Kazakhstan’s $500 million, Armenia’s $100,000 and Tajikistan’s $500,000.

The bank’s home office is in Almaty, Kazakhstan. -0–

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