Investments of EBRD in 2009 in Armenia will be $150 million

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.--0