YEREVAN. – Armenia is one of the best partners of the European Bank for Reconstruction and Development, EBRD President Suma Chakrabarti said in Yerevan.

Over past 20 years, EBRD has invested around $1 billion in 120 Armenia-based projects. Another $120 million will be invested by the end of this year.

Under the signed agreement, the bank will allocate $7 million to improve water infrastructure in Yerevan. Another $7.1 million will be received under the European Neighborhood Program.

The half of EBRD investments were allocated to the financial sector which will provide it to the small and medium enterprises.

“I positively assess Armenia’s prospect despite global crisis,” Chakrabarti added.