OREANDA-NEWS. On 14-15 April 2015 Eurasian Development Bank's (EDB) delegation headed by Dmitry Pankin, Chairman of the Management Board, visited Armenia at the invitation of Armenia's Prime Minister Ovik Abraamyan.

During the visit Dmitry Pankin met with Armenia's President Serzh Sargsyan to discuss the preliminary results of EDB's five years of work in Armenia and key areas for its future operations in the country.

The delegation also had negotiations with Prime Minister Ovik Abraamyan, Central Bank Chairman Artur Dzhavadyan, Vice Prime Minister and Minister of International Economic Integration and Reform Vache Gabrielyan, and Minister of Transport and Communications Gagik Beglaryan. The parties discussed the work of EDB and the EurAsEC Anti-Crisis Fund (ACF), which is managed by EDB, as well as potential joint investment projects and programmes.

In addition, EDB and the Armenian government signed an agreement on the provision of an investment credit from the ACF to finance the construction of the North-South road corridor. The Chairman of the Management Board at EDB said that he appreciated EDB and Armenia's cooperation in preparing this first large joint infrastructure project. "Financing investment projects in the area of infrastructure is a priority for EDB and the EurAsEC ACF," said Dmitry Pankin.

EDB's current investment portfolio in Armenia amounts to US \\$51.5 million and accumulated investment portfolio US \\$127.5 million. The ACF has two projects in Armenia: the construction of the North-South road corridor (Phase 4) and the upgrade and enhancement of irrigation systems.

During EDB's mission to Armenia in February 2015 Armenian ministries said they were interested in raising ACF funds to finance infrastructure projects, including the new phase of the North-South road corridor, the construction of the South Armenian railroad, a network of irrigation reservoirs in Armenia, and some other projects.