The EDB to provide a grant to Armenia Securities Exchange for software upgrade

13 January 2021

Yerevan, 12 January 2021. The Eurasian Development Bank (EDB) will provide Armenia Securities Exchange with a grant to upgrade its software. The financing will be extended from the Technical Assistance Fund (TAF).

According to the signed agreement, the EDB plans to finance the bulk of the costs to upgrade existing software solutions and invest in Armenia Securities Exchange’s new trading system. In addition to cutting-edge trading software, the new system will make it possible for any investor to directly access the exchange’s trading platforms through a broker-dealer to trade online per international standards. This feature is an indicator of the quality and attractiveness of modern exchange services.

Paying special attention to the importance of the EDB-supported programme, Hayk Yeganyan, CEO of Armenia Securities Exchange said: “Technological modernisation is a priority for Armenia Securities Exchange, as its success builds on the availability of its services to a wide range of traders. We appreciate the EDB’s support in advancing Armenia's capital market. The new trading system will help to expand exchange membership, increase the number of securities in circulation, introduce new exchange services, and encourage businesses to list and issue securities abroad. These factors will definitely help to improve the exchange’s key financial indicators further.”

Armen Melkikyan, EDB Country Director for Armenia, emphasised the integration effect of the programme and added: “The upgrade of Armenia Securities Exchange will promote the successful integration of its infrastructure with the financial markets of the Eurasian Economic Union member states, boosting capital market investments and trade volumes.”

The EDB Technical Assistance Fund was established to effectively support the fulfilment of the Bank’s mission. The Fund is formed by allocations from the EDB’s net profit for a calendar year and donor contributions.

Additional Information:

The Eurasian Development Bank (EDB) is an international financial institution promoting integration and development in its member countries – Armenia, Belarus, Kazakhstan, the Kyrgyz Republic, Russia, and Tajikistan. The EDB's charter capital totals US $7 billion. The Bank was established in January 2006 by Russia and Kazakhstan and is headquartered in Almaty. Transport infrastructure, energy, chemical, mining, and mechanical engineering projects with a high integration effect account for the main part of the EDB’s portfolio.

The EDB Media Centre:

Alexander Savelyev +7 (985) 765 23 59 (Moscow)

Azima Sapargaliyeva +7 (777) 750 00 08 (Almaty)

Sergey Gorbachev +7 (916) 727 22 00 (Moscow)

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