Finport.am - Level of investment portfolio of EurAsian Development Bank in Armenia reaches $94 mln for the last three months of 2012

Finogenov said that on 11 December a contract will be signed between the EADB and VTB Bank (Armenia) on delivery of credit $15 mln for crediting of small amd medium-sized business. «Armenia is one of the leaders of the CIS countries on development of small and medium-sized business, which is a strong side of Armenia’s economy and may become a benchmark for rebirth of all branches of the economy of the country. Besides the small business, the EADB also granted credits to the factories on production of mineral water — «Dilijan» and «Jermuk International», as well as such multiproduct companies in the construction and communication sphere like «Shen concern», UCOM and «ArmenTel». The bank also financed a programme on financing import of wheat to Armenia — $30 mln, which made it possible to mellow consequences of the world crisis at the grain market. At present they have been discussing the issue of financing programmes in the sphere of polymetal deposits, construction of logistic complex in Yerevan as well as fish breeding. «I was surprised to learn that Armenia is one of the leading countries on fish-breeding, including sturgeon. They told me that Siberian sturgeon made good townies in Armenia. The high demand on sturgeon and caviar may affect much development of the entire economy of the country. By the way, credit of EADB for development of the fish-breeding supposes export of 85% of production to the Russian market», — Finogenov said. Among other directions he separated engineering industry, electric engineering and chemistry. «All these spheres should be developed from the point of view of the transport component as well as they are a subject to be discussed by us», — Finogenov said. Eurasian Development Bank is an international financial institution founded by Russia and Kazakhstan in January 2006 with the mission to facilitate the development of market economies, sustainable economic growth and the expansion of mutual trade and other economic ties in its member states. EDB’s charter capital exceeds US $1.5 billion. The member states of the Bank are the Republic of Armenia, the Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic, the Russian Federation, and the Republic of Tajikistan.