Yerevan/Mediamax/. Eurasian Development Bank (EDB) opened its permanent representative office in Armenia today.

Mediamax reports that in connection with this, an agreement was signed between EDB and the Armenian government in Yerevan today on the terms of the bank’s presence on the territory of the republic.

As the Armenian Prime Minister Tigran Sargsian stated at the event, “We had been preparing for the agreement signing for a long time, discussed the terms of the bank’s presence in detail and we hope for active functioning of EDB in Armenia”.

Armenian Prime Minister stressed that a number of projects have already been submitted to consideration of EDB. Large volume of investments is necessary to realize those projects. Tigran Sargsian informed that the projects are of regional and integration nature within the framework of CIS and concern spheres, like chemistry, energy, processing of primary crude ore, and are estimated at $100mln each.

According to the Chairman of EDB Board Igor Finogenov, the bank’s activity meets both the interests of Armenia and all participants of the bank. He noted that there are active works in process now on considering the investment projects in Armenia, which aim at stable development of the country. 

Agreements were also signed on cooperation with EDB with “ArmRosGazprom” CJSC, “International Energy Corporation” CJSC, “South-Caucasus Railroad” CJSC and “Armbusinessbank” CJSC in Yerevan today.

According to Igor Finogenov, the agreement on cooperation with “Armbusinesbank” provides for allocating $20mln for the Armenian bank to credit small and medium enterprise in Armenia.