INVESTMENTS OF EBRD IN 2009 IN ARMENIA WILL BE $150 MILLION
ARKA
Nov 24, 2009
YEREVAN, November 24. /ARKA/. "Investments of European Bank of
Reconstruction and Development in Armenia will make $150 million in
2009 versus $75 million in 2008", said Olivier Descamps, Director
of Business-group of EBRD for the countries of South-East Europe,
Caucasus and Central Asia.
In 2009 EBRD continued to remain the partner of Armenia and undertook
serious risks by implementing record-breaking investments in 2009
in Armenia. "We made investments in the amount of $150 million and
today we are the largest investors in Armenia.
We work by partnership and credit programs with 11 banks, as well as
implement the largest corporate operations", said Descamps. About 65%
of the given amount is already invested; particularly the largest
transaction is provision of credit in the amount of $60 million to
the company "Electrical networks of Armenia". Till the end of 2009 it
is planned to sign another large agreement on share participation in
the program of funding the second phase of reconstruction of Armenian
airport "Zvartnots" in the amount of $40 million.
"The remaining amounts will be provided for smaller transactions
– from $1 million to $5 million, each for 12 operations which are
planned to implement in real sector of economy till the end of 2009",
said Descamps. EBRD is one of the largest investors in Armenia. Till
now EBRD had invested more than 335 million EURO in the implementation
of more than 70 programs in different sectors of economy of Armenia.