YEREVAN, October 17. / ARKA /. Armenia ranked fifth among CIS countries for the amount of Russian direct investments, according to “The Monitoring of Mutual Investments of the CIS” posted on Eurasian Development Bank’s website.
The share of Russia’s accumulated direct investments in total foreign investments in Armenia was 5.9% in late 2011, while Ukraine, Kazakhstan, Belarus and Uzbekistan accounted for 38%, 25.3%, 15.6% and 6.8% respectively.
Armenia outdid Georgia (1.1%) and Azerbaijan (2.7%).
Russia, with its $366.2 billion, was the undisputable capital exporter in late 2011. Armenia’s capital exports totaled $163 million. Its capital imports amounted to $5.04 billion – 54.2% less than Georgia’s and 55.3% less than Azerbaijan’s.
Four direct foreign investment projects on CIS operated in Armenia at the end of 2011. Three of them cost about $3 million.
Direct foreign investments in Armenia on four projects total $10 million. Georgia participates in eight projects ($410 million) and Azerbaijan in nine ($1.38 billion).
Russia’s central bank says Armenia accounts for 8.6% ($180 million) of CIS countries’ direct investments in Russia made over a period between 2007 and 2011. Georgia’s share here is 0.5% ($10 million) and Azerbaijan’s 15.3% ($320 million).
The largest investor among CIS countries is Kazakhstan – its share is 53.6% ($1.12 billion).
The largest Russian project in Armenia is the purchase of ArmenTel by Russia’s VimpelCom in 2006 (investments amount to about $600 million).
The bank has two branches and serves more than 30,000 individuals and two companies.
Eurasian Development Bank was established by Russia and Kazakhstan in January 2006 to foster development of market economies of participant countries.
The bank’s authorized capital exceeds $1.5 billion.
The EDB member countries are Russia, Kazakhstan, Armenia and Tajikistan. -0—-
