The Eurasian Development Bank has suspended implementation of crediting program of Armenia-based Spayka company until the criminal case against the company is over, chairman of the board of directors Andrey Belyaninov told reporters.

“The claims concern the taxes, so we have suspended [it]. We are ready, but we have suspended [it] on Spayka. We can’t take risk if the matter is about potential bankruptcy,” he said.

Asked whether the Bank will continue cooperation with Spayka if the company settles the matter with the Armenian authorities, he said: “We have just suspended the project. The is reason is force majeure.”

The Bank planned to allocate a credit of $67 million to Spayka which is engaged in the production and export of agricultural products.