The European Bank for Reconstruction and Development (EBRD) plans to invest 100 million euros in the implementation of 15 projects in Armenia in 2020, the head of the EBRD Yerevan office Dimitri Gvindadze said at a press conference on Thursday.
He said in 2019 about 120 million euros were channeled into 15 projects. “We are monitoring on a daily basis what private sector projects are possible to implement. Two main areas are financial institutions and the energy sector. The Armenian government is interested in developing renewable energy,” he said.
Gvindadze noted that EBRD was considering also projects in the field of transport and urban infrastructures.
“We will implement projects jointly with the European Union so that we can provide cheaper loans. We are having a dialogue with the Ministry of Finance and are considering other opportunities for cooperation with the private sector,” Gvindadze said.
He also said that the EBRD’s participation in projects plays an important role, since investors have greater confidence in such programs.
The EBRD is a leading institutional investor in Armenia, having invested a total of 1.4 billion euros in 180 projects since 1992. The bulk went to the private sector.
