Time in Yerevan: 11:07:36,   12 December

Eurasian Development Bank plans to expand activity in Armenia

Eurasian Development Bank plans to expand activity in Armenia

YEREVAN, NOVEMBER 22, ARMENPRESS. Deputy minister of economy Varos Simonyan today received Dmitry Ladikov-Roev, Member of the Management Board, Managing Director of Assets and Liabilities at the Eurasian Development Bank (EDB) and EDB Yerevan Office Director Armen Melkikyan, the ministry told Armenpress.

Dmitry Ladikov-Roev thanked for the meeting, briefly introduced the Bank’s activity, stating that the number of programs funded by the Bank and its investment activity are gradually growing. He said the Bank aims at expanding its activities with the member states of the Eurasian Economic Union (EAEU), in particular with Armenia, more closely cooperating and raising its role in the financial processes.

Dmitry Ladikov-Roev introduced the proposals of the Bank to the deputy minister, one of which relates to the use of national currencies in mutual calculations between the EAEU member states.

Varos Simonyan welcomed this initiative and stated that the ministry also wants to actively and effectively cooperate with the Bank, especially on matters of financing the investment programs. The deputy minister assured that the EDB proposals will be discussed and the initiatives of mutual interest will receive the ministry’s support.

The deputy minister also informed that a major investment forum is expected to be held in spring 2020 with the participation of famous investors, banks, and proposed the Bank to also attend the event.

The Eurasian Development Bank (the “EDB” or the “Bank”) is an international financial institution established to promote economic growth in its member states, extend trade and economic ties among them, and support integration in Eurasia through investment.

The Bank was conceived by the Presidents of the Russian Federation and the Republic of Kazakhstan and established in 2006, following the signing of an international agreement by the Presidents of those two countries on 12 January of that year.

The Republic of Armenia and the Republic of Tajikistan became full members of the Bank in 2009, the Republic of Belarus in 2010, and the Kyrgyz Republic in 2011.


Edited and translated by Aneta Harutyunyan



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