YEREVAN.- The European Bank for Reconstruction and Development annually invested in Armenia’s economy 70 million euro over the last two years, member of EBRD’s Board of Directors Kurt Bayer told journalists.

The bank’s delegation has arrived in Armenia to discuss new strategy for 2012-2015 and development of country’s economy.

According to Bayer, EBRD invested about $620 million over the last twenty years.

“EBRD is the largest investor in Armenia and wants to expand its presence in Armenia’s economy,” he said recalling that bank’s programs are developed based on applications.