EBRD INTENDS TO DOUBLE CREDIT PORTFOLIO IN ARMENIA TILL 2008

Yerevan, December 12. ArmInfo. The European Bank for Reconstruction and
Development (EBRD) intends to double its credit portfolio till 2008
to 120 mln EURO, the Head of EBRD Yerevan Office, Michael Weinstein,
said at today’s press- conference.

According to him, the Bank intends to increase the credit portfolio
mainly at the expense of a small and medium business crediting. In
2007-2008, the EBRD also intends to implement social projects in
energy, mainly in a renewable energy, in agriculture, realty, tourism
and health, he said. According to M. Weinstein, the credit portfolio
of the Bank, as of today, makes up 60 mln EURO.

To note, Armenia has been cooperating with EBRD since 1992. As of
the end, 2006, the total amount of credits, granted to the Republic,
makes up 102 mln EURO without taking in to account the credit for
reconstruction of the "Zvartnots" airport ($20 mln). Credits to the
sum of 117 mln EURO have been signed.

From: Emil Lazarian | Ararat NewsPress