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March 29
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YEREVAN. - So far the European Investment Bank has been involved in infrastructure projects in Armenia, now it’s going to expand into private sector, Mr Heinz Olbers, Director of the Eastern Neighbors and Central Asia Department at the European Investment Bank, told journalists at the conference entitled “Assistance to Innovations in Armenia”, co-organized by the Ministry of Economy of Armenia, the EIB and the state-run Armenia Development Fund.

“So far we have mainly focused on infrastructure projects - transport and energy, for example. And in the future this program will allow us to focus also on private sector, targeting enterprises with good potential”, he said.

Armenia has a sound record of good finance management. Right now the country has few challenges, so the bank has come at the right time for support, he added.

New investment facilities will be available through Horizon 2020, a program which Armenia joined on May 19, signing an agreement with the European Commission.

This program allows to access a large pool of finance for Armenian innovators. This does not necessarily mean that money is on demand there, but able and financially viable innovators can get their share of funding, Mr Vache Gabrielyan, Deputy Prime Minister of Armenia, noted.

To remind, he total capacity of Horizon 2020 is 80 bln euro.

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