YEREVAN, OCTOBER 31, ARMENPRESS: The Eurasian Development Bank (EDB) will continue working with Armenian commercial banks and is interested in funding of development projects on mining industry, energy, transportation infrastructures, EDB Armenia Office Director Sergey Ignatov said in an interview with Armenpress.

“There will also be a commercial funding provided by Armenia’s affiliation to the Eurasian Economic Union (EEU). Wide prospects are opening for Armenia, because the EEU market is quite big. Armenia can manifest itself quite successfully there taking into consideration the factor of the Armenian Diaspora in EEU member states. I think there is a potential for development of the business both in Armenia and outside the country,” stressed Sergey Ignatov.

The Eurasian Development Bank has allocated loan of 11 million to “Sagamar” CJSC, which exploits Armanis mine. In answer to the question why they decided to fund that company, Sergey Ignatov noted it is one of the most modern companies in Armenia in the field of mining.

In his words, Armenia is rich in solid minerals - molybdenum, gold, zinc, copper, and Armenia should use that potential. “I think Armenia should use those resources for development of its economy,” he noted.