Sun, 27 July
26.1 C
Yerevan
USD: 383.94 RUB: 4.85 EUR: 450.25 GEL: 141.78 GBP: 516.63

EBD to double its investment portfolio in Armenia in 2012

YEREVAN, March 12. /ARKA/. Eurasian Development Bank (EDB) is determined to double its portfolio in Armenia, EDB deputy chairman Dmitry Zhurba said on Monday.

He also said that at present financial institutions of Armenia are slated to receive $54 million. Another $30 million will be allocated for direct lending to Armenian commercial enterprises, and bearing in mind the agreement signed today between EBD and Areximbank-Gazprombank Group on $10 million loan, the total amount of loan makes up $100 million.

EBD and Areximnak-Gazprombank Group CJSC signed earlier today a $10- million loan agreement for on-lending to small and medium-sized businesses.

Speaking about investment climate in Armenia, Zhurba noted that there were quite many international deals on entering Armenian enterprises’ equity in the country.
“On this basis, the investment climate becomes definitely warmer,” he said.

The number of bank, operating today in Armenia, is optimal from competition angle, Zhurba answered the question by  ARKA agency.

“Bank margin is falling, struggle for a client is going on. This is great,” he said.
There are 21 banks in Armenia.

EDB was founded by Russia and Kazakhstan in January 2006 to facilitate the development of market economies, economic growth and the expansion of trade and other economic ties in its member states by carrying out investment activities. The bank finances projects in its member-states, worth a total of $2.6 million. Its members are Russia, Kazakhstan, Armenia and Tajikistan. Armenia has been cooperating with EDB since April 2010. —0–

spot_img

POPULAR

A scheme for stealing funds through fake investment platforms  exposed in Yerevan

A criminal group operating in one of the capital's business centers and stealing citizens' money through Internet calls has been exposed in Armenia, the Investigative Committee of Armenia reports.

Fitch expects inflation in Armenia to remain within the target level until 2027

International rating agency Fitch expects inflation in Armenia to remain within the target level until 2027, although soft fiscal policy and the projected moderate weakening of the dram create certain risks.

Fitch forecasts Armenia to tighten fiscal policy after 2027

Fitch Ratings analysts forecast a tightening of fiscal policy by the republic's authorities in a new report on Armenia.

Ranking of most profitable banks in Armenia based on results of first quarter of 2025

ARKA news agency publishes the ranking of the most profitable commercial banks in Armenia based on the results of the first quarter of 2025.

Armenia’s economy to stabilize on 5.5% growth trajectory in 2025 – EDB forecast

According to EDB forecasts, Armenia's economy will stabilize on a 5.5% growth trajectory with domestic demand remaining the main driver of development.

LATEST NEWS

spot_imgspot_imgspot_img