ARMENIAN PRESIDENT MEETS EBRD DELEGATION

news.am
March 18 2010
Armenia

RA President Serzh Sargsyan held a meeting March 18 with a delegation
led by President of the European Bank for Reconstruction and
Development (EBRD) Thomas Mirow.

The RA presidential press office informed NEWS.am that the Armenian
leader expressed his appreciation of the EBRD’s activities in Armenia.

"Our cooperation with the bank for several years has afforded us an
opportunity to win foreign investors’ confidence in our economy.

Armenia is ready to continue and develop mutually advantageous
cooperation," President Sargsyan said.

The EBRD President, for his part, pointed out that the EBRD’s
activities are aimed at modernizing the Armenian economy, focused on
the private sector and SMB development. He reported that the EBRD has
invested a total of U.S. $500m in Armenia. Last year, the investments
increased sharply because of the financial crisis.

The EBRD President stated that the Armenian financial system was able
to prove its stability in the critical situation. The sides also
discussed Armenia’s priorities, as well as the current and future
joint programs. Thomas Mirow stressed that the EBRD is ready for
further cooperation in supporting small-to-medium businesses (SMB)
and improving infrastructures. Among the fields of cooperation are
the banking and financing, energy and infrastructure development.