YEREVAN, May 12. /ARKA/. Armenia is demonstrating significant progress and growing readiness to use more complex financial instruments, said Elisabetta Falcetti, the bank’s Executive Director for Turkey and the Caucasus, in an interview with ARKA news agency.
“We are already seeing impressive momentum in green finance, including appropriate mechanisms, green housing projects, and sustainable infrastructure development programs,” she said.
Falcetti called the launch of EU-supported programs an important step toward expanding financing for small and medium-sized enterprises. Among these, she cited, in particular, the flagship “Refugee Resilience Window for Armenia” program and the EU4Business-EBRD credit line, supported by EFSD+ (European Fund for Sustainable Development Plus) risk-sharing instruments.
According to her, in the area of capital markets, recent reforms and companies’ preparation for issuing bonds and shares represent a significant step toward deepening local markets. “In the context of capital market development, the Central Bank of Armenia has consistently demonstrated a prudent and forward-looking approach to regulation and supervision. Close oversight of the financial system, a focus on risk management, and a willingness to implement international best practices have played a crucial role in ensuring financial stability, particularly during periods of external uncertainty,” she said.
The EBRD Executive Director praised the close cooperation with the Central Bank, including on strengthening prudential supervision, capital market regulation, and implementing derivatives and repo documentation in line with Armenian legislation.
According to her, these reforms not only enhance confidence among market participants but also lay the foundation for deeper and more resilient financial markets in Armenia.
“Digital financial services and fintech also offer significant potential, supported by Armenia’s tech-savvy workforce and growing digital ecosystem. Further development of regulation and strengthening investor confidence will be key factors in accelerating this process,” Falcetti concluded.
