ALMATY, December 18. /ARKA/. The total investments made by the Eurasian Development Bank (EDB) in Armenia for the period of 2022-2025 (actual volume) reached $380 million, as stated by Yaroslav Mandron, the Deputy Chairman of the EDB Management Board.
“Since 2010, the total investments have accumulated to $639 million,” Mandron mentioned during the final press conference on Thursday.
He highlighted several projects planned for 2025-2026, including a $300 million initiative to support the modernization of the mining industry, a $50 million digital transformation program in the mining sector, and a $20 million financing plan for the SME support program. “A significant 99% of the EDB’s investments are allocated to real sector projects.
Additionally, $4 million has been approved for EDB grant financing from the Technical Assistance Fund (TAF) for the years 2022-2025,” Mandron added.
About the EDB
The Eurasian Development Bank is a multilateral international financial institution established to promote economic growth among its member states, enhance trade and economic relationships, and foster integration processes in the Eurasian region through investment initiatives. Founded by Russia and Kazakhstan, the bank later welcomed Armenia, Tajikistan, Belarus, Kyrgyzstan, and Uzbekistan as members.
The authorized capital of the EDB stands at USD 7 billion. Armenia has been a member of the EDB since 2009. The Bank’s country strategy through 2026 is aimed at supporting projects that develop and modernize essential infrastructure—ensuring energy and transport security, diversifying energy sources, and enhancing food security—while also bolstering the capabilities of the country’s export-oriented sectors and financial system.-0-
