Armenia needs to develop its capital market

Armenia needs to diversify its economy and enhance business atmosphere to provide companies’ access to other funding sources, he said.

“In that regard, we see great progress in Armenian economy,” he said, adding that the country is currently implementing legislative reforms to increase its competitiveness on international market.

The EBRD is the major investor in Armenia. Its 2009, investments totaled USD 150 million against of the USD 75 million in 2008.

So far, EBRD has invested over 335 million euro in the country's economy for implementation of over 70 projects.

/PanARMENIAN.Net/