Speculative investments constituted part of investments in Armenia’s real estate market, Christoph Freytag, General Director of ProCredit Bank, told reporters on September 17. It became obvious during the economic crisis. According to him, Armenia did not suffer from the economic crisis as much as other countries, as it was better prepared. Countries that registered inflow of capital, for example Ukraine, suffered most, as they lost the capital during the crisis.

As regards Armenia, Freytag said the country is recovering. He pointed out that ProCredit Bank is now funding, and receiving applications for, more investment programs. Also, the bank has only credit worthy clients now.