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June 22, 2012 Friday
United Kingdom : EBRD strategy for Armenia focuses on finance,
infrastructure, agribusiness, energy
Stable (if slow) recovery from the crisis, fewer barriers to business,
and more private sector participation: these were Armenia (9KB -
SHTML) s achievements in the last three years since the EBRD adopted
its previous strategy for the country.
Armenia held more transparent and competitive parliamentary elections
in 2012, but continues to face challenges in consolidating its
democratic institutions and the rule of law. Transition challenges
remain in its economy as well. Taking these into account in the new
three-year strategy for Armenia (3KB - SHTML) approved by the EBRD
Board of Directors, the Bank has set the following priorities:
developing the financial sector and improve access to finance
improving municipal and urban transport infrastructure developing
agribusiness and high value-added, export-oriented industrial
companies improving the regulatory and institutional framework for
sustainable energy and increase added value in the mining sector.
In the last three years, Armenia has had to deal with the global
economic and financial crisis, drought and currency depreciation,
among other challenges. The EBRD responded by increasing funding for
the corporate sector, especially to agribusiness companies, expanding
its cooperation with commercial banks, supporting private operators of
key infrastructure and stepping up small business support.
Armenia (9KB - SHTML) became the first country to achieve financing in
local currency under the Bank s new Early Transition Countries Local
Currency Initiative. The EBRD is continuing its dialogue with the
authorities aimed at the development of local money and capital
markets in the country where dollarisation and with it the foreign
exchange risk surged during the crisis.
Through the Bank-funded Business Support Office, the EBRD continues to
work on improving the business environment in Armenia. The Bank s
transactions there have been supported and complemented through
extensive technical assistance and grants financed by donors.
Since the beginning of its operations in Armenia in 1994, the EBRD has
invested over 553 million in the country in over 105 projects. About
94 per cent of the EBRD s portfolio in Armenia is in the private
sector, which is well above the Bank s average level.
From: Emil Lazarian | Ararat NewsPress
June 22, 2012 Friday
United Kingdom : EBRD strategy for Armenia focuses on finance,
infrastructure, agribusiness, energy
Stable (if slow) recovery from the crisis, fewer barriers to business,
and more private sector participation: these were Armenia (9KB -
SHTML) s achievements in the last three years since the EBRD adopted
its previous strategy for the country.
Armenia held more transparent and competitive parliamentary elections
in 2012, but continues to face challenges in consolidating its
democratic institutions and the rule of law. Transition challenges
remain in its economy as well. Taking these into account in the new
three-year strategy for Armenia (3KB - SHTML) approved by the EBRD
Board of Directors, the Bank has set the following priorities:
developing the financial sector and improve access to finance
improving municipal and urban transport infrastructure developing
agribusiness and high value-added, export-oriented industrial
companies improving the regulatory and institutional framework for
sustainable energy and increase added value in the mining sector.
In the last three years, Armenia has had to deal with the global
economic and financial crisis, drought and currency depreciation,
among other challenges. The EBRD responded by increasing funding for
the corporate sector, especially to agribusiness companies, expanding
its cooperation with commercial banks, supporting private operators of
key infrastructure and stepping up small business support.
Armenia (9KB - SHTML) became the first country to achieve financing in
local currency under the Bank s new Early Transition Countries Local
Currency Initiative. The EBRD is continuing its dialogue with the
authorities aimed at the development of local money and capital
markets in the country where dollarisation and with it the foreign
exchange risk surged during the crisis.
Through the Bank-funded Business Support Office, the EBRD continues to
work on improving the business environment in Armenia. The Bank s
transactions there have been supported and complemented through
extensive technical assistance and grants financed by donors.
Since the beginning of its operations in Armenia in 1994, the EBRD has
invested over 553 million in the country in over 105 projects. About
94 per cent of the EBRD s portfolio in Armenia is in the private
sector, which is well above the Bank s average level.
From: Emil Lazarian | Ararat NewsPress