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Eurasian Development Bank Intends To Implement New Investment Projec

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  • Eurasian Development Bank Intends To Implement New Investment Projec

    EURASIAN DEVELOPMENT BANK INTENDS TO IMPLEMENT NEW INVESTMENT PROJECTS IN ARMENIA

    31.03.2015 16:40

    YEREVAN, March 31. /ARKA/. The Eurasian Development Bank is now
    making necessary preparations for lending $220 million to Armenia
    and Kyrgyzstan for implementation of four investment projects,
    Dmitry Pankin, chairman of the bank's board, said in an interview
    with Analytical Banking Magazine.

    "It is decided to extend three investment loans amounting to 230
    million to Armenia and Kyrgyzstan. Other four investment projects
    for these countries amounting to $220 million are at the preparatory
    stage now," he said in his interview.

    Asked if the bank considers room for extending loans in various
    countries in their national currencies given devaluation of the
    Russian ruble and breakaway from the dollar, Pankin said that the
    bank is dealing only with tenge, rubles and dollars so far.

    He found the idea of extending loans in national currencies interesting
    saying that the current volatility at forex market just fuels interest
    in dealing with national currencies.

    "But it is very important to ensure here mechanisms of refinancing
    of these projects in national currencies, and we will work in this
    direction," the chairman of the bank said.

    Eurasian Development Bank (EDB) is an international financial
    organization established by Russia (66% of authorized capital)
    and Kazakhstan (33% of authorized capital) in 2006 to help develop
    market economies and boost mutual trade ties in member states. The
    member-states are Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia
    and Tajikistan. ---0---

    http://www.armbanks.am/en/2015/03/31/86118/

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