EBRD to have invested $85 million in Armenia this year

YEREVAN, December 1, /ARKA/. The European Bank for Reconstruction and Development (EBRD) will have invested into Armenian economy this year about $85 million, EBRD Yerevan Office head Valeriu Razlog said Tuesday. The Bank has invested in 26 different projects, he said, adding that the amount is by $15 million less of what the Bank had invested last year.

Speaking to Armenian journalists he said the Bank is planning now next year’s investments and hopes to invest no less than this year.

He said the main focus will be on traditional products embracing banking and private sectors, but the number of energy-related projects will grow. He said also EBRD is considering several infrastructure projects in municipal sector, like refuse processing, water supply and removal and a transport project. Valeriu Razlog said EBRD plans to purchase shares in some Armenian companies next years.

‘We are negotiating with these companies, but I can not say now what we may get after all. Nonetheless, we hope to present several projects,’ he said.

EBRD is one of the biggest foreign investors in Armenian economy since its inception here in 1994. Up to date it has invested $600 million in 94 projects. -0-