Armenian annual report highlights growing European ties
Central Bank of Armenia strikes loan agreement worth €50 million with EIB
The Central Bank of Armenia highlighted the growing ties between the country's financial sector and Europe in its annual report for 2014, published today (July 13).
In December, the central bank struck a deal to borrow €50 million ($56 million) from the European Investment Bank, which it will use to fund various small and medium-sized enterprise projects in Armenia.
"The loan funds will be used primarily for processing of agro products and agriculture and tourism sector development," the report
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