President Serzh Sargsyan received the Vice President of the European Investment Bank

President Serzh Sargsyan received the Vice President of the European Investment Bank (EIB) Jan Vapaavuori.

The President of Armenia hailed Armenia’s cooperation with the EIB which, according to the President, stands out for its strong dynamics and efficiency. The Bank is financing strategic programs which promote Armenia’s economic growth such as programs aimed at the development of infrastructure and programs which assist the small and medium enterprises. “With this regard, we view the European Investment Bank as our strategic partner,” said President Serzh Sargsyan.
The President stressed the importance of the regular meetings with the leadership of the Bank which, in his opinion, help in creating new programs and in their effective implementation.

Vice President of the European Investment Bank (EIB) Jan Vapaavuori thanked the President of Armenia for the excellent cooperation with the EIB which, in his words, though doesn’t have a long history – the first agreement was signed in 2007, while the first credit program was implemented in 2010, nevertheless allowed to carry out significant works. “We are particularly happy and content with the high level of implementation of the signed programs. We can see that you have very efficient administrative mechanisms which allow to efficiently implement all these programs,” said Jan Vapaavuori at the meeting with the President of Armenia. He also spoke with satisfaction about the second phase agreement on the financing of the small and medium enterprises signed today with the Central Bank of Armenia, whose principle beneficiaries are small and medium businesses of Armenia.

The President of Armenia expressed gratitude to the EIB for the assistance in implementing one of very important for our country infrastructure programs – the modernization of the RA border points of Bagratashen, Bavra, and Gogavan.

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President Sargsyan and Vice President of the European Investment Bank Jan Vapaavuori discussed also issues related to the development of the Bank’s cooperation with Armenia.