EURASIAN DEVELOPMENT BANK WILL PROVIDE LOANS TO ARMENIAN COMPANIES

Tert.am
16.04.10

Eurasian Development Bank is planning to sign agreements with
Armenia and Belarus to open representations from April-May in the two
countries, bank’s Chairman of the Board Igor Finogenov was reported
as saying, according to a release issued by the bank.

It also said that Armenia became a full member of the bank in April
last year and shortly after its membership acquisition the country
started actively discussing infrastructure projects.

The bank will in the coming 2-3 months discuss the first loan contracts
with Armenian companies.

"Our experience shows that the period of the discussion of the project
– till the signing of the loan contract after the loan holder applies
for the bank – lasts 9-12 months. That is a good indicator given the
complexity and the scale of the projects," mentioned Finogenov.

According to him there will be no limit on the loans, and that the
scales of financing of Armenian companies will depend on the extent
the proposed projects will meet the strategy and risk standards set
by the bank.