EBRD plans to invest up to 500 million Euros in Armenia in 2024

|

USD

391.56

EUR

428.21

RUB

4.7705

GEL

140.68

Economy

15.05.2024, 16:07

The European Bank for Reconstruction and Development (EBRD) plans to invest up to 500 million Euros in Armenian projects during 2024, EBRD President Odile Renaud-Basso said today speaking at the Bank's annual meeting in Yerevan.

EBRD plans to invest up to 500 million Euros in Armenia in 2024

YEREVAN, May 15. /ARKA/. The European Bank for Reconstruction and Development (EBRD) plans to invest up to 500 million Euros in Armenian projects during 2024, EBRD President Odile Renaud-Basso said today speaking at the Bank's annual meeting in Yerevan.

She said this will be a historic figure in terms of EBRD investments in this country. According to her, this fact shows that 'we are working closely with both the public and private sectors.”

She said also that 640 million Euros have already been invested in Armenia over the past 5 years, 50% of which in the private sector.

Odile Renaud-Basso pointed out five components reflecting the country's internal potential:

- information technology

- financial system stability

- business environment

- green ambitions

- regional connectivity

She said that the events in Ukraine have increased the need for stable connectivity between Europe and Asia, making the South Caucasus region and Armenia in particular an attractive area for international trade and investment.

The EBRD is one of the largest institutional financiers in Armenia. Over the past five years, the Bank has invested €640 million in the country, supporting private-sector development, infrastructure enhancement, renewable energy generation and rural digitalisation. To date, the EBRD has invested more than €2.1 billion in 211 projects across Armenia.

ARKA news agency is the media sponsor of the EBRD Annual Meeting and Business Forum, taking place May 14-16 in Yerevan. -0--

Cadastre Committee to create passports for about 10,000 geographical names of Armenia

The Armenian Cadastre Committee will create 'passports' for about 10,000 geographical names and update the data in 2025, the head of the Committee Suren Tovmasyan said.

18.03.2025 18:14

"A busy year awaits us": Martin Galstyan on the impact of China's economy and trade wars on Armenia

The head of the Armenian Central Bank Martin Galstyan responded to a question whether the Stimulus Package, adopted by China and, in particular, the rise in copper prices, will affect Armenia's economy.

18.03.2025 17:56

Central Bank of Armenia left refinancing rate unchanged at 6.75%

At its meeting on March 18, the Board of the Central Bank of Armenia kept the refinancing rate unchanged at 6.75%.

18.03.2025 12:18

Armenia aims to connect itself with both EEU, EU, Arab, Asian and other markets by "numerous threads" - Papoyan

Armenia seeks to connect its economy with the Eurasian Economic Union (EEU) market as well as the EU, Arab, Asian and other markets with as many threads as possible, Minister of Economy Gevorg Papoyan said.

17.03.2025 17:16

S&P expects Armenia's economic growth to halve in three years

Over the next three years, growth in Georgia and Armenia will almost halve, from 9.4% and 8.8%, respectively, in 2022-24, but will remain sustainable, according to a commentary by S&P Global Ratings analysts, as reported by FrankMedia.

14.03.2025 10:26

Dynamics of the decline in exports and imports in Armenia will last throughout the first half of the year – EDB

The decline in the value of exports and imports in Armenia in January by 49.2% year-on-year (y/y) and 33.5% y/y, respectively, was due to the fact that the positive impact of foreign trade in precious metals had been exhausted.

13.03.2025 15:00

Armenia's position in the “2025 index of economic freedom significantly worsens”

Armenia ranked 57th out of 184 countries in the 2025 Index of Economic Freedom, published by the Heritage Foundation.

12.03.2025 12:25

Freight traffic in Armenia grew by 12.9% in January, passenger traffic declined by 20.8%

The total freight traffic in Armenia in January 2025 amounted to 1,117.6 thousand tons, increasing by 12.9% compared to January 2024, while the total passenger traffic amounted to 12,728.6 thousand with a 20.8% decline, according to the National Statistical Committee.

10.03.2025 17:22