During the press conference on May 7th preceding the annual meeting and business forum of the European Bank for Reconstruction and Development (EBRD) in Yerevan, EBRD President Odile Renaud-Basso emphasized that Armenia holds advantageous positions in the information technology (IT) and digital financial technology (fintech) sectors, including the digitization of services.
According to her, the country has enormous potential for development in these areas.
Georgi Aghalkatsi, the head of the EBRD's Armenian office, added that the bank pays special attention to the development of these sectors. He also announced that a whole day dedicated to fintech will be allocated at the upcoming EBRD meeting and business forum, which will take place at the Tumo Center for Creative Technologies. Qualified speakers will discuss the latest achievements in financial technology.
In Aghalkatsi's opinion, these issues are key on the bank's agenda, and its partners direct a significant portion of investments into the field of artificial intelligence (AI), which enhances efficiency.
"EBRD actively finances this sector in Armenia, investing in the development of the Armenian 'unicorn' Picsart. Additionally, the bank supports Team Telecom Armenia, providing connectivity for 400 thousand subscribers," Aghalkatsi added.
The annual meeting of the EBRD Board of Governors is scheduled for May 14-16 in Yerevan.
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%.
The annual meeting and business forum of the EBRD bring together high-ranking officials from member countries, representatives of the financial world, and business leaders to discuss financial and economic issues and cooperation in addressing them.
