YEREVAN. - President of Armenia Serzh Sargsyan on Friday received Vice President of the European Investment Bank (EIB) Jan Vapaavuori.

Serzh Sargsyan highly appreciated the cooperation with the bank, which, according to him, stands out for its growing activity and productivity. The bank funds the programs of strategic significance in the area of infrastructures and small and medium enterprises, the President noted. He also underscored the importance of holding periodic meetings with the bank leadership, which, in his words, helps develop new programs and implement them effectively.

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%

The bank Vice-President thanked the Armenian President for the active cooperation, adding that despite the short period, the first agreement and loan program were signed in 2007 and 2010 respectively, huge work having been carried out.

Sargsyan thanked the guest for the cooperation in implementing the modernization program of Bagratashen, Bavra and Gogavan border crossing points, which is important for the republic.

The interlocutors also discussed issues of further cooperation.