YEREVAN, October 1. / ARKA /. The European Bank for Reconstruction and Development (EBRD) has financed the implementation of 130 projects in Armenia since it gained independence, worth a total of 731 million euros, Mark Davis, the head of EBRD Yerevan Office, said today at an EBRD conference on trade finance in Yerevan.
He said the EBRD woks actively to support Armenia’s economy and one of its main priorities in the country is to support the private sector, in particular, the small and medium-sized businesses including through partnerships with Armenian banks.
He noted that the Bank aims to use SMEs as a stimulus of economic development, and to this end it is necessary to make financing more available, including through modern banking instruments.
According to him, the EBRD has invested so far 161 million euro in trade finance in Armenia through 9 partner banks and 1,214 deals. He said the bank’s trade finance project is already 15 years old.
In 2013, the EBRD signed 7 agreements in Armenia totaling 32 million euros.
The two-day trade finance conference is being held in cooperation with the European Union (EU). The sponsors of the event are Armeconombank, Ameriabank, Araratbank, Armswissbank, Inecobank as well as the Armenian Chamber of Commerce and Industry and the Foundation for Small and Medium Businesses. -0-
