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Eurasian Development Bank Allocated $30 Million For Wheat Import To

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  • Eurasian Development Bank Allocated $30 Million For Wheat Import To

    EURASIAN DEVELOPMENT BANK ALLOCATED $30 MILLION FOR WHEAT IMPORT TO ARMENIA

    /ARKA/
    February 18, 2011
    YEREVAN

    Eurasian Development Bank (EDB) allocated $30 million to Armenian
    flour-producing company "Eco-Pure" for importing 25 thousand tons of
    wheat in the frames of the agreement on funding wheat purchase and
    transportation to Armenia by the first tranche.

    The first time agreement on the provision of credit was signed in
    December 2010 in Moscow by Deputy Chairman of EDB Board Genadiy
    Zhuzhlev and "Eco-Pure" Ltd. Director Edgar Ghazaryan.

    "Eco-Pure" Ltd. Signed also agreement on wheat delivery with Russian
    company "United wheat company" open jsc funded by credit of EDB.

    "This year the situation in wheat markets of CIS countries is more
    complicated and implementation of this project will help to keep
    bread and flour prices imported to Armenia on the reasonable level.

    Implementation of the project will promote integrated relations between
    Russia and Armenia by increasing trade turnover between two countries.

    EDB was established by Russia and Kazakhstan in January 2006 with the
    purpose of support to market economy of participant-states. Charter
    capital of the bank exceeds $1.5 billion. Participant-states of the
    bank are Russian Federation, Kazakhstan, Armenia and Tajikistan.




    From: A. Papazian
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