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EBRD: Will Invest EUR180 Million In Armenia Over Next 2 Years

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  • EBRD: Will Invest EUR180 Million In Armenia Over Next 2 Years

    LONDON (Dow Jones)--The European Bank for Reconstruction and Development Tuesday said it will invest EUR180 million in Armenia over the next two years.

    The development bank said that although the country isn't greatly exposed to the global financial crisis, it will suffer from a drop in remittances from Armenians working outside the country, and declining exports.

    The EBRD said it will provide loans to Armenian banks that will be used to finance companies operating in the country, and will make "selective" equity investments in its leading banks.

    In its review of its strategy for the country, the EBRD said reforms have slowed in recent years and a number of issues need to be addressed, including "promoting competition and limiting monopolies, tackling corruption (and) strengthening the financial sector."

    The EBRD was established in 1991 to help countries in eastern Europe and the former Soviet Union make the transition from centrally planned to market economies.

    It is the largest single investor in Armenia, having committed EUR240 million to 64 projects in the country.

    -By Paul Hannon, Dow Jones Newswires, +44 20 7842 9491, [email protected]

    source

  • #2
    Re: EBRD: Will Invest EUR180 Million In Armenia Over Next 2 Years

    This is really good news. I'm impressed. Thanks for letting us know yekhpayr.
    THE ROAD TO FREEDOM AND JUSTICE IS A LONG ONE!

    Comment


    • #3
      Re: EBRD: Will Invest EUR180 Million In Armenia Over Next 2 Years

      Originally posted by Saco View Post
      This is really good news. I'm impressed. Thanks for letting us know yekhpayr.
      It should hopefully help offset some of Obama's Turkey worship (since Obama cut aid to Armenia).

      Comment


      • #4
        Re: EBRD: Will Invest EUR180 Million In Armenia Over Next 2 Years

        Amen to that, lol
        THE ROAD TO FREEDOM AND JUSTICE IS A LONG ONE!

        Comment


        • #5
          Re: EBRD: Will Invest EUR180 Million In Armenia Over Next 2 Years

          This is private sector aid/debt and not investment! Armenia urgently need to clean up it's act and open up and develop the countries markets. Russia has far to much control over Armenia's economy and the absence of the rule of law and isolation/Turkish blockade is detering investment.

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          • #6
            Re: EBRD: Will Invest EUR180 Million In Armenia Over Next 2 Years

            Originally posted by retro View Post
            Russia has far to much control over Armenia's economy
            That's for certain, but if we piss them off by trying to be independent of them, things would only get worse

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            • #7
              Re: EBRD: Will Invest EUR180 Million In Armenia Over Next 2 Years

              Originally posted by ara87 View Post
              That's for certain, but if we piss them off by trying to be independent of them, things would only get worse
              Yep because the Azeri's are trying to get Russia on their side, so they can try and invade and conquer Armenia.

              I am sure even then they will lose again though. Maybe they lose 30% of 'their territory' this time.

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              • #8
                Re: EBRD: Will Invest EUR180 Million In Armenia Over Next 2 Years

                That would be great, wouldn't it?

                Comment


                • #9
                  Re: EBRD: Will Invest EUR180 Million In Armenia Over Next 2 Years

                  Originally posted by Icy View Post
                  That would be great, wouldn't it?
                  Yep.

                  Comment


                  • #10
                    Re: EBRD: Will Invest EUR180 Million In Armenia Over Next 2 Years

                    Originally posted by hipeter924 View Post
                    Yep because the Azeri's are trying to get Russia on their side, so they can try and invade and conquer Armenia.
                    You are right, Armenia is in real danger of being squeeze out of existence. As Azerbaijan's energy exports will buy it wider political leverage and economically it is now far better positioned than Armenia.

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