ARMENIAN BANKS TO HAVE INVESTMENT RATINGS BY THE END OF THE YEAR
By Ara Martirosian

AZG Armenian Daily
31/03/2006

Head of European Bank Voices Hope

Speaking about the results of the international banking conference
on trade financing, Michael Davey, head of the European Bank for
Reconstruction and Development (EBRD), voiced an opinion that
Armenian enterprises will henceforth ask for greater finances from
banks and the Armenian banks will acquire necessary skills to provide
financing. As a result of that, the economy will develop and EBRD’s
financial projects will double. Mr. Davey emphasized the need for
Armenia and Armenian banks to have investment ratings.

Executive director of Armeconom bank, Ashot Osipian, stated that
participants of the conference had a chance for a business contact with
each other to discuss issues of the sphere. Mr. Osipian emphasized
the importance of the conference and said that they will try to hold
it every year. Foreign participants also wished the conference to
become annual.

He also informed that the initiators of the conference have set up
prizes for the two foreign and two local companies, best importers and
exporters. Touching upon the finance instruments, Osipian emphasized
the importance of the fact that they will help the companies to export
or import goods without suffering big losses, having received back
their goods or money.

Thus, they will lessen the risks.