Armenia will join the Asian Infrastructure Investment Bank
The Standing Committee on Financial, Credit and Budgetary Affairs of the National Assembly approved the ratification of Armenia's project to join the Asian Infrastructure Investment Bank.
The project on ratifying the agreement "On the Asian Infrastructure Investment Bank" was presented at the NA session by Narek Hovakimyan, Deputy Minister of Economy of the Republic of Armenia.
The deputy minister noted that since 2017, the issue of joining the Asian Infrastructure Investment Bank has been discussed by the RA government.
2019 The RA Ministry of Finance proposed that Armenia subscribe to the bank with 5 shares, but the proposal was rejected in principle by the bank, noting that only the smallest candidates subscribed with 5 shares.
"We will join with the subscription of 374 shares, the amount will be paid in 5 installments in the amount of 20 percent of the total amount every year. We think that the project is justified from the point of view of diversification of risks and credit funds", said Narek Hovakimyan.
Hovakimyan said that by becoming a member of the investment bank, a wide range of investments opens up.
"At the moment, one of the main goals is that we have the opportunity to become a member of the big investment program of the Chinese initiative "One Belt One Road" and attract a number of investments and low-interest loan funds in terms of infrastructure ," he said.
