Armenian government earmarks $100,000 for purchase of shares of Eurasian Development Bank
Armenian government earmarks $100,000 for purchase of shares of Eurasian Development Bank27.03.2009, ARKA
Armenian Government decided to allocate $100,000 for purchase of shares of the Eurasian Development Bank in the second quarter of 2009 at its guest sitting in Kotayk region Thursday.
Armenian Minister of Finance Tigran Davtyan reported that the agreement about establishing the Eurasian Development Bank has been already ratified by the Armenian Parliament
Armenian Premier Tigran Sargsyan, in his turn, said that the value of the Bank’s programs is expected to total $500mln in Armenia.
The agreement on foundation of the Eurasian Development Bank was signed between Russia and Kazakhstan on January 12, 2006. The Bank started its activities as early as in June 2006.
Currently, the authorized stock of the Eurasian Development Bank is $1.5bln: the Russian share is $1bln and the Kazakhtani part is $0.5bln. The Bank’s headoffice is in Almati.
The Bank finances major mid- and long-term investments projects, including industrial and innovation programs of member-countries and interstate special-purpose programs, provides financial and credit support to member-countries in their macroeconomic and structural policy.
The Eurasian Development Bank takes also part in implementation of projects of interregional importance and provides loans to industrial enterprises.
Armenian Parliament ratified the agreement about foundation of the Bank on February 3. –0—
