Eurasian Development Bank (EDB) is ready to provide loans to industrial projects in Armenia and expand cooperation with commercial banks of the country. Andrey Belyaninov, Chairman of the EDB Board, stated this at a Moscow-Yerevan-Chisinau-Minsk videoconference on "Regional Integration, Eurasian Development Bank Cooperation with EEU Countries".

He reminded that the EDB has already allocated 7 million euros to the "Electric Networks of Armenia" CJSC.

As for the close cooperation with Armenia’s banks, according to the EDB top executive, the bank is ready to expand it. "The country's banking sector is in good shape," Belyaninov said. “During this period many projects have been implemented in the sphere of small and medium-size business. Despite the fact that the banks are not very powerful financially, which is linked to certain caution, cooperation with the EDB will certainly contribute to the development of the whole economy of Armenia."