Yerevan, June 14 /Mediamax/. Russian “VTB Bank” plans to fund investment programs at total sum of about $500mln in Armenia.

Mediamax reports that the President of “VTB Bank” OJSC Andrey Kostin said this in Yerevan today, speaking during the ceremony of opening the new “Moscow” branch of “VTB-Armenia Bank” in the House of Moscow.

According to Kostin, during the “very important” meetings in the Central Bank and the meeting with the Armenian Prime Minister Serzh Sarkisian today, discussion of large-scale investment programs in the spheres of energy and gas, extraction of natural metals and avia-transportation took place.

“We want to become native in Armenia, and without real investments in economy of the country, it is impossible to become native”, Andrey Kostin stressed.

As Mediamax was told in the press service of the government, after the meeting of Andrey Kostin with the Armenian Prime Minister Serzh Sarkisian, the President of “Vallex” Group Valeri Medzhlumian presented the program for exploitation of Teghut copper-molybdenum deposit, the funding of which will be taken up by “VTB Bank”. According to Medzhlumian, the preliminary conditions of the program, costing $198mln, are already agreed upon between “Vallex” Group and “VTB Bank”.