EBRD has invested about 620 million euros in Armenia

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Economy

14.05.2013, 19:14

The European Bank for Reconstruction and Development (EBRD) has invested about 620 million euros in various projects in Armenia since its inception here in 1992, head of EBRD Yerevan Office Valeriu Razlog said today at a special event marking EBRD’s 10th anniversary in Armenia. He said about half of the amount – some 310 million euros- were channeled into financing the banking sector.

EBRD has invested about 620 million euros in Armenia

YEREVAN, May 14. / ARKA /. The European Bank for Reconstruction and Development (EBRD) has invested about 620 million euros in various projects in Armenia since its inception here in 1992, head of EBRD Yerevan Office Valeriu Razlog said today at a special event marking EBRD’s 10th anniversary in Armenia. He said about half of the amount – some 310 million euros- were channeled into financing the banking sector.

Another 25% of the EBRD's investments went to finance the transport sector, in particular, the modernization of Yerevan airport and customs points, 15% were used to finance a string of projects in the energy sector, in particular in the field of renewable energy, including support to 25 small hydropower plants, as well as the transportation and distribution of electricity.

According to Razlog, the remaining 10% of the total investment were allocated to private and municipal sectors, in particular, for reconstruction of the Yerevan metro, water system, as well as to the food industry. The EBRD is one of the largest investors in Armenia.-0-

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