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Country data

Population:
3.1 million
Area:
29,800 sq km
Capital:
Yerevan
Currency:
Armenian dram

Key developments and challenges

The authorities have continued to deregulate the economy and establish frameworks for competition and improved governance. Reforms of business regulations, property rights and public inspections have been introduced, competition legislation was improved and a law on conflict of interest was adopted.

A new mining code was approved. The new code is expected to improve the investment environment in the sector and lead to greater revenues over time, as taxation of the sector will be more closely tied to the sale of ores rather than reserves.

The authorities continue to implement policies to stimulate capital market development and reduce dollarisation. The central bank continued to tighten the regulatory framework to encourage the use of local currency by obliging banks to keep required reserves in AMD. Regulations were adopted to enable issuance of foreign currency bonds by local enterprises and banks.

More developments and challenges
Woman in factory in Armenia

Our work in Armenia

Armenia

Key facts about the EBRD's work in Armenia

No. of projects

107

Net business volume

€519.5 million

Total project value

€993.7 million

Gross disbursements

€443.7 million

Portfolio in private sector

93%

 

View factsheet


Our strategy in Armenia

In the coming years, the Bank will continue its policy dialogue with the authorities on improving the business environment in Armenia. 

Through the Bank-funded Business Support Office, the public-private dialogue will be strengthened and expanded to deal effectively with various issues that impede doing business in Armenia. 

Policy dialogue on sector reforms should promote the commercialisation of utility companies, deepen private sector participation and reduce the level of public subsidies.

Reforms in the technical, regulatory and legal frameworks for sustainable energy should help Armenia deal with challenges in energy security, efficiency and affordability.

Read strategy

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