ArmInfo News Agency, Armenia
Oct 13 2005

Armenian president happy about investment projects of European bank

Yerevan, 13 October: Armenian President Robert Kocharyan received the
representatives of the board of directors of the European Bank for
Reconstruction and Development (EBRD) today.

The relations between Armenia and the EBRD have entered a practical
stage, the Armenian president noted with satisfaction. He stressed
the importance of boosting the work of the bank with the private
sector. As the first steps show, the commercial entities of Armenia
are reliable partners, Kocharyan said.

The Armenian president said that the reforms in Armenia are being
conducted with a conviction that they are the driving force in the
development of the country. The economic growth achieved following
the reforms is impressive and a certain share comes to the projects
of the EBRD.

The sides also discussed the possible ways of further cooperation.
Kocharyan expressed a desire for an active involvement of the EBRD in
the development of Armenia. As of today, the total amount of the EBRD
investment projects in Armenia amounts to 100m euros. Armenia has
been cooperating with the EBRD since 1992.