EDB investment portfolio to gross USD 2,1 billion by yearendJune 7, 2010 - 12:18 AMT PanARMENIAN.Net - At Almaty conference, the Council of the European Development Bank discussed implementation of 2009 program to secure EDB strategy and development for 2008-2010, EDB press service told PanARMENIAN.Net According to EDB CEO Igor Finogenov, by the end of 2010, EBD investment portfolio should gross USD 2,1 billion. He also informed that EDB investment portfolio grew by 10,45% to reach USD 1,3billion in 2009. “EDB-fulfilled projects provide participating states with mutual investment growth of USD 300 million,” he stated. Eurasian Development Bank The EDB was founded on January 12, 2006 in Astana, Kazakhstan following the signing of the Agreement on Establishment of the Bank, which was then ratified by the Republic of Kazakhstan on April 12, 2006 and by the Russian Federation on June 3, 2006. The Bank officially commenced operations on June 16, 2006. The Bank enjoys the status of an international organization and is subject to international law. The Bank was established with a charter capital of US$1.5 billion, of which US$1 billion is contributed by Russia and US$500 million by Kazakhstan. According to the founding documents, any country or international organization can apply to become a member of the EDB. The Bank's mission is to facilitate the development of market economies, economic growth and the expansion of trade and other economic ties in its member states by carrying out investment activities. The Bank strives to become a consolidating element within the financial infrastructure and a catalyst for the expansion of integration processes in the territory of its member states. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Armenia calls for prohibiting threats of attacks on nuclear facilities Armenia has raised the need for a treaty prohibiting attacks on nuclear facilities devoted to peaceful purposes. Armenia Security Council chief traveling to Qatar Secretary of the Security Council of Armenia Armen Grigoryan will travel on a working visit to Qatar. Pillars installed in Armenian border village of Kirants In the Armenian village of Kirants, three border markers have been installed, and border guards stand next to them. Armenian Foreign Minister regrets “tragic loss” of Iranian counterpart The Armenian Foreign Ministry has expressed shock over the death of the Iranian President and the Minister of Foreign Affairs. |