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European Bank For Reconstruction And Development And "Elite Group" C

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  • European Bank For Reconstruction And Development And "Elite Group" C

    EUROPEAN BANK FOR RECONSTRUCTION AND DEVELOPMENT AND "ELITE GROUP" COMPANY SIGN A MEDIUM-TERM LOAN AGREEMENT

    ARMENPRESS
    July 1, 2009

    YEREVAN, JULY 1, ARMENPRESS: European Bank for Reconstruction and
    Development (EBRD) and "Elite Group" company signed today an agreement
    on medium-term loan in the Fresco hall of the Armenian National
    Gallery. The document has been signed by the head of "Elite Group"
    company Armen Mkoian and head of the Armenian office of EBRD Valeriu
    Razlog. Armenian Prime Minister Tigran Sargsyan, EBRD regional director
    Paul Henry Forstier, Armenian Finance Minister Tigran Davtian, head of
    the Armenian Union of Manufacturers and Businessmen Arsen Ghazarian,
    members of the Government and businessmen were present at the ceremony
    of signing. With the agreement 5.5 million USD credit is provided
    to the leader of the construction sphere in Armenia "Elite Group"
    company as well as 130 000 euro of grant for the encouragement of
    the innovations implemented in the energy saving sphere.

    According to the Prime Minister Tigran Sargsyan, the signing of this
    agreement has an important role it will assist to smoothen the results
    of the financial-economic crisis.

    The Prime Minister congratulated the present on the signing of the
    agreement and expressed gratitude to P. Henry Forstier stressing
    that in spite of the negative impact of the crisis and serious risks
    discovered in different spheres including the construction he is sure
    the credit means will assist the Armenian economy.

    "I am glad to be in Armenia; this is the second time we are
    implementing a credit project in Armenia and I hope it will become
    a tradition. We are providing credit to the Armenian economy through
    "Elite Group". It is pleasant for us to mention that the EBRD has spent
    nearly 1 million Euro in the Armenian energy efficiency sphere. I hope
    there will be other occasions for us to assist the Armenian economy,"
    P Henry Forstier said.
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