YEREVAN, October 9. /ARKA/. The Eurasian Development Bank’s (EDB) investment portfolio in Armenia stands now at $91 million and is likely to increase by another $30 million after the completion of another two projects, EDB’s director for Armenia Armen Melkikyan told reporters on Wednesday.
He added that the accumulated investment portfolio of the bank in Armenia for the entire period of its activities amounted to $208 million.
“We are actively working with large corporations, and plan to complete two more projects by the end of the year, ‘ Melkikyan said refusing to elaborate, saying technical problems may arise concerning the completion time of the projects,” Melkikyan said.
He said according to EDB strategy, the investment portfolio of Armenia is to grow from the current 2.5% to 15% starting from 2022.
“We have already doubled this figure over the past year to 2.5%, but there are difficulties with the quality of the submitted projects. However, it is a matter of proper communication and working with the applicants so that they understands the EDB parameters. I think that this problem can be solved,” said Melkikyan.
The Eurasian Development Bank (EDB) is an international financial organization established by Russia and Kazakhstan in January 2006 with the aim of promoting the development of a market economy of the participating countries, to help boost their sustainable economic growth and expansion of mutual trade and economic ties.
The authorized capital of the EDB is 7 billion US dollars. Member states are the Republic of Armenia, the Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic, the Russian Federation and the Republic of Tajikistan. -0-
