EBRD president arrives in Armenia

RosBusinessConsulting Database
May 18, 2004 Tuesday

Jean Lemierre, the President of the EBRD, arrived in Armenia today
in the course of his Caucasus tour, Yerevany-based EBRD affiliate
reported. Lemierre is to meet Armenian President Robert Kocharian,
Prime Minister Andranik Mrakarian, Armenian bankers and entrepreneurs.

The visit follows a new EBRD initiative to support some of its poorest
countries it operates in – Armenia, Azerbaijan, Georgia, Kyrgyzstan,
Moldova, Tajikistan and Uzbekistan – where more than 50 percent of
the population live in poverty.

Lemierre will highlight the goals of this early transition country
(ETC) initiative in the context of the three countries with the
objective of stimulating market activity by financing more and smaller
projects, mobilizing more investment, and encouraging ongoing economic
reforms. He is supposed to express the Bank’s readiness to take more
risk. The EBRD will aim to support more private-sector development,
particularly focused on micro, small and medium-sized enterprises.

The EBRD has invested about EUR700m across Armenia, Georgia and
Azerbaijan, in projects ranging from banking to infrastructure and
energy to supporting small and medium-sized enterprises.