Armenian “Armeconombank”, EBRD Implement Joint Programs

ARMENIAN “ARMECONOMBANK”, EBRD IMPLEMENT JOINT PROGRAMS

ARKA News Agency, Armenia
March 28 2006

Yerevan, March 28. /ARKA/. The Armenian “Armeconombank” and the EBRD
are implementing five joint programs in Armenia, Ashot Hosipyan,
Executive Director of the “Armeconombank”, stated at the 1st
international banking conference on financing foreign trade opened
in Yerevan.

Hosipyan said that one of the programs is that of trade financing,
which was launched in December 2002 and has been successfully
implemented until now.

“We regard this as the most important stage of the strategic program
of our bank’s development. After receiving assistance from the
EBRD we started working with international commercial banks, using
international financial instruments without the EBRD’s assistance,”
Hosipyan said.

The conference has been organized by the EBRD and the Armeconombank .

Among the media sponsors are the “ARKA” News Agency, “Armnews” TV
channel, and “Republic of Armenia” newspaper.

Among the participants in the conference are representatives of the
Deutsche Bank, ABN-Armo bank, Citibank, Interstate Bank, as well as of
the Central Bank of Armenia, Union of Manufacturers and Businessmen,
large local and international companies and banks.

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