ARMENIAN GOVERNMENT EARMARKS $100,000 FOR PURCHASE OF SHARES OF EURASIAN DEVELOPMENT BANK
ARKA
March 27, 2009
Aghveran
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 foundat ion of the
Bank on February 3.