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Harold Doan and Associates (press release), CA
Oct 13 2005
EBRD board to Georgia & Armenia
Oct. 12 2005
Press Release - European Bank for Reconstruction and Development
Directors from the European Bank for Reconstruction and Development
are on a seven-visit to Georgia and Armenia. They are meeting senior
government officials and business leaders in the respective
countries, as well as investors and representatives of the
international and diplomatic community and civil society.
The EBRD's board of directors represents the Bank's 62 public
shareholders, rather than its executive arm, and approves all Bank
projects. The goal of the visit is to learn more about the state of
reforms and transition in the region as the Bank prepares its new
two-year strategy for Armenia, due before the end of 2005. Both
Georgia and Armenia participate in the Bank's 2004 Early Transition
Countries (ETC) initiative, which aims to stimulate market activity
in the Bank's seven lowest-income countries of operations by using a
streamlined approach to financing more and smaller projects.
The Bank's cumulative commitments in Georgia, which is pursuing
structural reform and a large-scale privatization programme, stood at
319.6 million in August 2005. The EBRD's main strategic orientations
for Georgia focus on the promotion of private-sector activity and
investment through support for domestic and foreign investors, small
and medium-size enterprises to build stability in the power sector
and enhance the investment climate. In Tbilisi, the seven EBRD
directors will meet President Mikheil Saakashvili, Prime Minister
Zurab Nogaideli, National Bank President Roman Gorsiridze and
Parliament Chairwoman Nino Burjanadze.
The Armenian economy continues to perform encouragingly in 2005,
recording a growth rate of 11.7 per cent in the first eight months of
the year, in line with the average of the past four years. Foreign
direct investment inflows were sharply higher in 2004, poverty on the
decline, fiscal performance improving and public debt sustainable.
Total EBRD investment in Armenia was 32.1 million in May 2005. The
EBRD delegation will meet President Robert Kocharyan, Prime Minister
Andranik Margaryan and key ministers. The Bank is considering a
variety of new equity investments and cooperation with Armenia's
strengthening banking sector to bring more financing to smaller
businesses.
http://www.harolddoan.com/modules.php?name=News&file=article&sid=638 7
From: Emil Lazarian | Ararat NewsPress
Oct 13 2005
EBRD board to Georgia & Armenia
Oct. 12 2005
Press Release - European Bank for Reconstruction and Development
Directors from the European Bank for Reconstruction and Development
are on a seven-visit to Georgia and Armenia. They are meeting senior
government officials and business leaders in the respective
countries, as well as investors and representatives of the
international and diplomatic community and civil society.
The EBRD's board of directors represents the Bank's 62 public
shareholders, rather than its executive arm, and approves all Bank
projects. The goal of the visit is to learn more about the state of
reforms and transition in the region as the Bank prepares its new
two-year strategy for Armenia, due before the end of 2005. Both
Georgia and Armenia participate in the Bank's 2004 Early Transition
Countries (ETC) initiative, which aims to stimulate market activity
in the Bank's seven lowest-income countries of operations by using a
streamlined approach to financing more and smaller projects.
The Bank's cumulative commitments in Georgia, which is pursuing
structural reform and a large-scale privatization programme, stood at
319.6 million in August 2005. The EBRD's main strategic orientations
for Georgia focus on the promotion of private-sector activity and
investment through support for domestic and foreign investors, small
and medium-size enterprises to build stability in the power sector
and enhance the investment climate. In Tbilisi, the seven EBRD
directors will meet President Mikheil Saakashvili, Prime Minister
Zurab Nogaideli, National Bank President Roman Gorsiridze and
Parliament Chairwoman Nino Burjanadze.
The Armenian economy continues to perform encouragingly in 2005,
recording a growth rate of 11.7 per cent in the first eight months of
the year, in line with the average of the past four years. Foreign
direct investment inflows were sharply higher in 2004, poverty on the
decline, fiscal performance improving and public debt sustainable.
Total EBRD investment in Armenia was 32.1 million in May 2005. The
EBRD delegation will meet President Robert Kocharyan, Prime Minister
Andranik Margaryan and key ministers. The Bank is considering a
variety of new equity investments and cooperation with Armenia's
strengthening banking sector to bring more financing to smaller
businesses.
http://www.harolddoan.com/modules.php?name=News&file=article&sid=638 7
From: Emil Lazarian | Ararat NewsPress