EBRD TO ALLOCATE EURO 180 MILLION FOR RA ECONOMY DEVELOPMENT

/PanARMENIAN.Net/
10.06.2009 17:35 GMT+04:00

/PanARMENIAN.Net/ European Bank for Reconstruction and Development
(EBRD) announced an intention to allocate Euro 180 million for RA
economy development in 2009 – 2010. The bank plans to fund 30 projects
implementation to allow RA to overcome financial crisis consequences.

In current circumstances, EBRD follows the policy of supporting
medium-sized and small business, providing necessary funding through
partner banks, the announcement said.

Besides, EBRD will offer RA banks credits for energy-saving as well
as structural reform projects, on share holding terms. Total EBRD
investments for 64 projects’ implementation in Armenia comprised over
Euro 240 million, slon.ru reported.