Yerevan/Mediamax/. All-Armenian Bank will start functioning in spring, 2011, its newly-appointed Chairman Vahram Nersisyants stated today.

Speaking at the news conference in Yerevan, Vahram Nersisyants stated that the bank will fund long-term investment programs, aimed at supporting export of Armenian production to international markets.

According to him, in the nearest prospect financing of programs in the sphere of education, information technologies, medicine and tourism, as well as projects, considered within the framework of Armenian National Competitiveness Foundation, is possible.

The authorized capital stock of the All-Armenian Bank will make USD 100mln, USD 20mln of which will be invested by the Armenian government, and the remaining means are planned to be attracted from representatives of the Diaspora and international organizations.