Yerevan/Mediamax/. Cooperation between Armenia and the European Bank for Reconstruction and Development (EBRD) contributed to formation of investor confidence towards Armenian economy.

As Mediamax was informed in the press service of the President, Armenian President Serzh Sargsian said this at a meeting with EBRD Chairman Thomas Mirow today.

Serzh Sargsian expressed readiness to continue and broaden partnership with the European bank.

Thomas Mirow stated that EBRD activity in Armenia is directed at modernizing economy, and the bank focuses most on stimulating the private sector, developing infrastructures, small and medium business. EBRD Head stated that in complex crisis conditions, the financial system of Armenia managed to remain standing, demonstrating firmness and endurance.