SERGE SARGSIAN: PROGRAMS TO BE IMPLEMENTED BY VTB BANK IN ARMENIA ARE IN LINE WITH POLICY OF ARMENIAN GOVERNMENT

Noyan Tapan
Jun 14 2007

YEREVAN, JUNE 14, NOYAN TAPAN. During the June 14 meeting with the
Armenian prime minister Serge Sargsian, Chairman of VTB Bank OJSC
Andrey Kostin presented programs of VTB Bank inclined to operate in
the Armenian market.

He underlined that the business environment and legislative field
are quite conducive to operation in Armenian market, and VTB Bank is
seriously interested in carrying out activities in a number of sectors,
including energy, aviation, mortgage crediting, mining industry,
etc. He expressed a high opinion about the activities of the Central
Bank of Armenia (CBA) and the cooperation of their company and CBA.

S. Sargsian welcomed the programs presented by VTB Bank’s chairman,
noting that they are fully in line with the policy and programs
of the Armenian government. He expressed a willingness to assist
with the implementation of these programs aimed at developing the
Armenian economy, within the scope of possibilities and powers of
the government.

According to the RA Government Information and PR Department, after the
meeting the President of Valex Group in Armenia Valery Mejlumian spoke
about the program on operation of the Teghut copper and molybdenum
mine, which they envisage to implement with funds of VTB Bank. In his
words, the preliminary terms of this 198 million-dollar program have
been agreeed on between the bank and Valex Group.

From: Emil Lazarian | Ararat NewsPress