YEREVAN. – Prime Minister of Armenia, Karen Karapetyan, on Friday received a delegation, led by Vice-President Jan Vapaavuori of the European Investment Bank (EIB).

The PM lauded Armenia’s cooperation with this bank, and underscored the past and present EIB co-funded projects in the country.

Consumer loans without collateral up to AMD 2,000,000

Up to December 30 consumer loans without collateral up to AMD 2,000,000 will be granted only with annual interest rate of 19-20%

Karapetyan also thanked this bank for its technical assistance to Armenia within the framework of loan programs. The Premier added that the Government of Armenia will continue to be more scrupulous toward the spending of loans.

The PM noted that the government is willing to further develop cooperation with EIB. He also informed that new sectoral funds will be founded in Armenia toward promoting business.

Vapaavuori, for his part, said he is aware of the Armenian government’s steps aimed at improving the business climate, and stressed that the EIB stands ready to contribute in this regard, as well.

At the same time, he expressed satisfaction with the level of EIB cooperation with the Armenian government. He noted that this bank has directed considerable measures toward the implementation of programs of strategic importance for Armenia.

At the ensuing talk, Karen Karapetyan and Jan Vapaavuori conferred on several other matters of mutual interest.