ERDB TO DEVELOP COOPERATION WITH ARMENIA
Pan Armenian
14.10.2005 20:07 GMT+04:00
/PanARMENIAN.Net/ Armenian Prime Minister Andranik Margaryan met today
directors from the European Bank for Reconstruction and Development,
who are in Armenia, after visiting Georgia, to learn more about the
state of reforms and transition in the region as the Bank prepares its
new two-year strategy for Armenia, due before the end of 2005. To
note, Armenia participates in the Bank’s 2004 Early Transition
Countries (ETC) initiative, which aims to stimulate market activity
in the Bank’s seven lowest-income countries of operations by using a
streamlined approach to financing more and smaller projects. Armenian
government press office said EBRD directors praised the government for
its persisting efforts as a result of which the economy continues to
perform encouragingly in 2005, recording a growth rate of 11.7% in the
first eight months of the year, in line with the average of the past
four years. They also said the EBRD is considering a variety of new
equity investments and cooperation with Armenia’s strengthening banking
sector to bring more financing to smaller businesses and stressed
the key importance of establishment of a friendly business environment.