EURASIAN DEVELOPMENT BANK TO ESTABLISH REPRESENTATION IN YEREVAN

PanARMENIAN.Net –
April 26, 2010 – 15:50 AMT 10:50 GMT

The Eurasian Development Bank (EDB) representation will open in Yerevan
on April 27. The opening ceremony will be attended by Armenian Prime
Minister Tigran Sargsyan, representatives of the RA Central Bank and
Chairman of the EDB Board Igor Finogenov.

Five agreements between Armenia and the EDB will be signed on the
sidelines of the upcoming ceremony, including the agreement on the
bank’s operation in the Republic of Armenia, allowing the EDB to
complete the official accreditation procedure, the RA government’s
press service told PanARMENIAN.Net

The Eurasian Development Bank has started operating since June 16,
2006. It is an international organization and its activity is regulated
by international law. In December 2008, the EDB Board considered
Armenia’s application and approved its membership in the EDB. On
February 3, 2009, the Armenian parliament ratified the agreement on
establishment of the EDB representation. In April 2009, Armenia paid
its share in the EDB authorized capital through transferring its fee
to the bank’s account.