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Country data
- Population:
- 3.2 million
- Area:
- 29,800 sq km
- Capital:
- Yerevan
- Currency:
- Armenian dram
Key developments and challenges
Armenia’s economy is expected to contract by about 12 per cent in 2009 in the wake of the global economic downturn. However, it is expected to record positive growth in 2010, partly as a result of the significant concessional finance packages from the International Monetary Fund (IMF), the World Bank and Russia. Further improvements in relations with Turkey could make a significant positive contribution to Armenia’s trade balance. Continuing the ambitious pension reform agenda and safeguarding key social expenditure will be the main fiscal challenges in 2010.
More developments and challenges
Armenia
Key facts about the EBRD's work in Armenia
|
No. of projects |
83 |
|---|---|
|
Net business volume |
€427.0 million |
|
Total project value |
€881.7 million |
|
Gross disbursements |
€309.5 million |
|
Portfolio in private sector |
96% |
EBRD projects 2000-09
Sector breakdown of current projects
Our strategy in Armenia
The Bank’s main focus over the coming years will be on infrastructure and the enterprise and financial sectors.
In developing infrastructure, the EBRD will continue its support of creditworthy renewable energy and energy efficiency projects, and promote further development of Armenia’s energy sector by financing the country’s leading privately-owned power generation and distribution companies.
In the enterprise sector, the EBRD will continue to finance MSMEs, finance creditworthy large enterprises and place emphasis on expanding the Bank’s TAM/BAS advisory services.
In the financial sector, the Bank will strengthen financial intermediation in Armenia. This includes encouraging consolidation in the banking sector, through financing the best local banks.
CONTACTS
Citadel Business Centre
105/1 Teryan Street
4th Floor, Suite #407
0009 Yerevan
Armenia
Tel: +37410 51 48 05 /06/07/08/09
Fax: +37410 51 48 10
Highlights
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Flagship reports
The EBRD's principal corporate publications.
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The global financial crisis
We have responded to the crisis with decisive and extensive measures.
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Sustainability
We're committed to sustainable growth and development.
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Our strategies and policies
All our strategies, policies, procedures and related guidelines.
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Speeches and articles
Speeches and articles by EBRD Presidents and senior staff.
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How we are funded
We finance our lending and operational needs by borrowing funds.