YEREVAN. – By initially allocating US$ 40 million, several international finance organizations have founded the Caucasus Development Bank. Valeriu Razlog, Head of the Yerevan Office of the European Bank for Reconstruction and Development (EBRD), stated this during a press conference on Friday.

The EBRD, International Finance Corporation (IFC), Netherlands Development Finance Company (FMO), and Black Sea Trade and Development Bank (BSTDB) have invested in the Caucasus Development Bank.   

The Bank’s Armenia branch will operate in cooperation with the United States Agency for International Development (USAID).

In his turn, Dutch Ambassador Peter Ian Langenberg noted that Armenia has developing companies plus those that are full of prospect.