Armenian premier says Eurasian development bank may open representation in Armenia
25.05.2009,
18:10
The Eurasian Development Bank (EDB) may open its representation in Armenia, RA Prime Minister Tigran Sargsyan said on a plane returning from Astana to Yerevan.
YEREVAN, May 25. /ARKA/. The Eurasian Development Bank (EDB) may open its representation in Armenia, RA Prime Minister Tigran Sargsyan said on a plane returning from Astana to Yerevan.
The prime minister added he had negotiated with EDB President Igor Finogenov over possible opening of the bank’s representation in Armenia.
They also discussed possible investment programs in Armenia. “It is known that Armenia was the third founder of the Eurasian bank. We have made our contribution to the bank’s capital,” Sargsyan was quoted as saying.
During his meeting with the EDB president, the Armenian premier touched upon three to four investment programs and one of them was a mining project.
On January 12, 2006, Russia and Kazakhstan signed an agreement on the establishment of the Eurasian Development Bank. EDB launched operations in June 2006. The bank’s authorized capital totals $1.5bln, with Russia and Kazakhstan having $1bln and $0.5bln share respectively. EDB’s headquarters are located in Almaty.
The bank finances mid-term and long-term investment projects of regional importance and extends loans to enterprises in its member-states. It also supports macroeconomic and structural policies of members.
EDB also participates in interregional investment projects.
On March 26, the RA Government agreed on purchasing EDB shares at $100,000.
The bank is expected to earmark $500mln for programs in Armenia. –0--
The prime minister added he had negotiated with EDB President Igor Finogenov over possible opening of the bank’s representation in Armenia.
They also discussed possible investment programs in Armenia. “It is known that Armenia was the third founder of the Eurasian bank. We have made our contribution to the bank’s capital,” Sargsyan was quoted as saying.
During his meeting with the EDB president, the Armenian premier touched upon three to four investment programs and one of them was a mining project.
On January 12, 2006, Russia and Kazakhstan signed an agreement on the establishment of the Eurasian Development Bank. EDB launched operations in June 2006. The bank’s authorized capital totals $1.5bln, with Russia and Kazakhstan having $1bln and $0.5bln share respectively. EDB’s headquarters are located in Almaty.
The bank finances mid-term and long-term investment projects of regional importance and extends loans to enterprises in its member-states. It also supports macroeconomic and structural policies of members.
EDB also participates in interregional investment projects.
On March 26, the RA Government agreed on purchasing EDB shares at $100,000.
The bank is expected to earmark $500mln for programs in Armenia. –0--
