YEREVAN, January 31. /ARKA/. Since its inception in Armenia in 1992 the European Bank for Reconstruction and Development (EBRD has invested a total of 1.4 billion euros in 180 projects, the head of the EBRD Yerevan Office Dimitry Gvindadze said at a press conference on Thursday.
He said the year of 2019 was one of the most successful in terms of investments- about 120 million euros were channeled into 15 projects.
According to Gvindadze, the bank’s vision is to create stable and innovative businesses that provide opportunities for everyone.
“While implementing our projects, we work to ensure compliance with the following principles: competitiveness, inclusiveness, stability, integration, good manageability and environmental friendliness,” Gvindadze said.
According to Gvindadze, the bank’s current projects portfolio in Armenia is about 365 million euros.
“Our difference from other investment financial institutions is that the majority of our investments – about 90%, are channeled into the private sector. This means we support SMEs, the banking sector, the real sector of the economy,”said Gvindadze.
Regarding the portfolio structure, the head of the office said financial institutions account for 48% of it, infrastructure projects account for 34% and industry and agribusiness account for 18%.
The EBRD is a leading institutional investor in Armenia, which has been operating in the country since 1992. -0-
