The President of the European Bank for Reconstruction and Development (EBRD) Odile Renaud-Basso announced the bank's plans to invest up to €500 million in Armenia in 2024. This statement was made during the annual meeting held in Yerevan on May 15.
"This will be a historic figure in terms of our investments in this country. It demonstrates that we are working closely with both the public and private sectors," Renaud-Basso noted, according to the "ARKA" agency.
Over the past five years, the EBRD has already invested €640 million in Armenia, with 50% directed to the private sector.
Renaud-Basso highlighted five key components reflecting Armenia's internal potential:
1. Information Technology,
2. Financial System Resilience,
3. Business Environment,
4. Green Ambitions,
5. Regional Connectivity.
Specifically, regarding the first component, she noted the significant potential of human capital in Armenia.
As for regional connectivity, Renaud-Basso emphasized that due to the events in Ukraine, the need for establishing stable links between Europe and Asia has increased, making the South Caucasus region, and Armenia in particular, an attractive link for international trade and investment.
Earlier, BMG reported that Armenia became a member of the EBRD on December 7, 1992. The Bank has participated in financing 210 projects in Armenia, with a total investment portfolio of 2.080 billion euros. The share of investments in the private sector is 81%.
