EUROPEAN INVESTMENT BANK READY TO START LARGE-SCALE INVESTMENT PROJECTS IN ARMENIA

ARKA
May 29, 2008

YEREVAN, May 29. /ARKA/. The European Investment Bank is ready to
start large-scale investment projects in Armenia. This statement
was made at the meeting of Armenian Deputy Foreign Minister Arman
Kirakosian with the Vice-President of the European Investment Bank
Eva Schreiber, the Press Service of Armenian Foreign Ministry reported.

Schreiber introduced the first steps taken in the cooperation between
Armenia and the Bank after the signing of the agreement between the
Bank and Armenian Ministry of Finance.

Schreiber expressed hope that soon implementation of large-scale
investment projects will be possible in both public and private
sectors of Armenian economy. Among the priority fields mentioned were
transport, energy and ecology where large loans can be extended with
assistance of the Bank's technical examination service.

Armenian Deputy Foreign Minister, in his turn, assured that Armenia
is interested in successful implementation of joint projects and
stressed importance to the Bank's activities in the country.

European Investment Bank is an EU body founded in 1959 for support
to development, integration and cooperation through investment loans
extended at equal interest to ensure balanced loan management in
terms of debt repayment.