Tuesday, 5 February 2008
RA Prime Minister Serzh Sargsyan received First Vice-president of KfW German bank Roland Ziller.
The Prime Minister expressed satisfaction in connection with the normal development of the Armenian-German relationship, a key component of which is the cooperation in the financial sphere. In his opinion, more than 10 years of cooperation with KfW bank have shown that it is possible to achieve good results in this area. In this context, Serzh Sargsyan emphasized the importance of both the size of borrowed funds and the choice of target areas. He mentioned that the Armenian State prioritized the development of the financial sphere, especially the domestic mortgage loan market, as well as the energy and water management sectors and the complex of social problems faced up in the disaster zone. Therefore, the programs carried out by the Bank in these spheres coincided with the priorities set out by the government of Armenia. Welcoming the initiative of establishing the Procredit branch in Armenia, Serzh Sargsyan expressed satisfaction at the fact that its activities will be aimed at the development of small and medium-size enterprise in Armenia.
Thanking the RA Prime Minister, the CBA and the Ministry of Finance and Economy for the cooperation and assistance provided with the establishment of the Bank's Procredit branch in our country, Roland Ziller noted that the effective operations of over two tens of bank branches worldwide instilled confidence that the scheme would be a success in Armenia, too. In stating that he was deeply impressed with the recent economic developments in Armenia, the First Vice-president of KfW bank stressed that these trends had enabled the Bank to triple the size of investments carried out in Armenia. Mr. Ziller similarly noted the importance of those programs carried out in the disaster zone and said that the management of the Bank had decided to concentrate additional efforts in this direction.
In conclusion, by stressing the need of holding on the long-term character of KfW-implemented programs, Prime Minister Serzh Sargsyan wished every success to the Bank with its operations in Armenia and reiterated the Government's readiness to promote a mutually advantageous cooperation as much as possible.
