EBRD to Continue the Assistance to Armenian Energy Sector

The European Bank for Reconstruction and Development (EBRD) will continue to provide Armenia with both technical and policy assistance, the head of the Armenian office of the EBRD, Dmitry Gvindadze, said at a meeting with Armenian Finance Minister Atom Janjughazyan on Wednesday.

Gvindadze was quoted by the press service of the ministry as saying that the EBRD finances largely the real sector of the Armenian economy, and also implements projects primarily in the financial and energy sectors.

The two men were said to have discussed also possible directions of cooperation. Janjughazyan said the government will determine  the priority of projects based on balanced solutions.

The EBRD is one of the leading institutional investors in Armenia. As of early September last year, the bilateral cooperation package between Armenia and the EBRD included 158 projects worth  about 1.1 billion euros.

Armenia and the EBRD

"In Armenia, we focus on developing the financial sector, improving transport infrastructure, supporting the development of value-added industrial companies, improving the business environment and strengthening corporate governance, and supporting the development of sustainable energy infrastructure and investments in mining projects with high standards of environmental and social protection."

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