Armenia’s Ministry of Finance, EDB and ACRA sign Memorandum of Understanding

YEREVAN, September 7. /ARKA/. Armenia’s Ministry of Finance, the Eurasian Development Bank (EDB) and the Russian Analytical Credit Rating Agency (ACRA) signed today in Yerevan a Memorandum of Understanding.
The Armenian Ministry of Finance said under the memorandum ACRA will assign a sovereign credit rating to the Republic of Armenia, ensure the availability of rating services, including assessing the credit rating of companies-residents of the Armenian financial market. ACRA will also assign credit ratings to bonds issued in Armenia.
Armenian Finance Minister Tigran Khachatryan expressed readiness to deepen cooperation with the EDB.
The Chairman of the Board of the EDB Nikolay Podguzov said Armenia and the EDB have successfully implemented a string of joint projects and initiatives. He welcomed the steps taken by the Armenian government to improve the business environment and encourage private investment.
In July, the Eurasian Development Bank said it was going to increase its Armenian portfolio to $500 million.
The Eurasian Development Bank (EDB) comprises Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia and Tajikistan. Its authorized capital is US $7 billion.
Russian rating agency ACRA established in 2015 assigns national scale credit ratings to financial institutions, corporate sector companies, regional and municipal authorities of the Russian Federation and their financial instruments. -0-