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ABOUT THE CBA

International cooperation

International relations

 
The Central Bank, within its authorities, represents interests of the Republic of Armenia in international financial organizations, international and overseas banks, as well as in relations with central and other banks of other countries, signs international agreements as required by the Law. (According to the LAW ON THE CENTRAL BANK OF THE REPUBLIC OF ARMENIA, Adopted 30.06.1996)
 

EBRD   www.ebrd.com


Cooperation with the European Bank for Reconstruction and Development (EBRD)
Armenia joined the EBRD on December 7, 1992. Since 1992 EBRD’s focus is on helping to diversify the economy by supporting investment in various sectors, as well as supporting the development of the financial sector and small and medium-sized enterprises. The Bank’s priorities in Armenia for the next few years are to continue developing the financial sector and access to finance, upgrading municipal and urban transport infrastructure, developing agribusiness and high value-added, export-oriented industrial companies, improving the regulatory and institutional framework for sustainable energy, and raising corporate governance standards and increasing transparency in the mining sector. The Central Bank of Armenia Armenia’s Governor at the EBRD is the Minister of Economy; his Alternate Governor is the deputy governor of the Ministry of Finance. Representatives of the CBA take part in EBRD meetings and formulate Armenia’s position with regard to the most important issues discussed by the EBRD. At present, Armenia holds 1,050 shares in the ЕBRD's equity capital or 0.05 percent of total shares. Armenia’s voting power in the EBRD is 1050 votes, or 0.05 percent of total.
 

Interstate Bank   www.isbnk.org


Interstate Bank founded with accordance to the Agreement of establishing Interstate Bank, signed between CIS countries from January 22, 1993 in Minsk. The founders of the Bank are Kazakhstan, Armenia, Belarus, Kyrgyzstan, Tajikistan,Moldova, Turkmenistan, Uzbekistan, Ukraine and the Russian Federation. Bank is operating on the territory of CIS countries and participating in the process of integrative actions of CIS countries, in development and rework in the field of payment systems. The structure correspondent connection allows customers and users to be provided by schemes of payment with counteragents in different point of CIS and other countries. Interstate Bank is operating in money-market, equity market, interbank credits and deposits. Bank is an international institution, which has direct approach to national payment systems of founders of the institution, which allows making settlements as a participant in payment systems of Kazakhstan, Armenia, Belarus, Kyrgyzstan, Tajikistan, Moldova, Turkmenistan, Uzbekistan, Ukraine and the Russian Federation.

BSTDB   www.bstdb.org


Armenia is also one of the founding member countries of the Black Sea Trade and Development Bank (BST DB), which was established in 1997 by the member countries of the BSEC as a regional multilateral development bank and financial pillar of BSEC. The current owners are the governments of Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Turkey, and Ukraine. BSTDB supports regional trade and investment, providing financing for commercial transactions and projects in the private and public sectors to help Member States to establish stronger economic linkages and to contribute effectively to their transition process towards the economic prosperity. Armenia appoints a Governor (Alternate Governor) and a Director (Alternate Director), who represents the country on the Board of Governors and the Board of Directors accordingly. The Chairman of the Central Bank is appointed as the Governor and the First Deputy Chief of Staff of the Office of the President of the Republic of Armenia is appointed as the Director in the Board of Governors and Board of Directors of the BSTDB accordingly. Alternate Governor is the Director of Financial System Stability and Development Department of the Central Bank of Armenia, and the alternate Director is the Director of Multilateral and Bilateral Economic Cooperation Department of the Ministry of Foreign Affairs of Armenia. At present, Armenia holds 1.0 percent of the BSTDB total shares, which is make up 20 million SDR.

ADB   www.adb.org


Armenia became a member of Asian Development Bank (ADB) in September 2005. Within the ADB Armenia is part of a constituency including Cook Islands, Fiji, Indonesia, Kyrgyz Republic, New Zealand, Samoa, Tonga. Since 2005 the ADB has been a key partner in supporting the development agenda of Armenia, as well as its economic growth and reform program. Operations in the country are closely aligned with the government’s priorities—as well as ADB’s strengths—including promoting rural development, developing the private sector, and supporting enhanced regional cooperation. ADB’s work in Armenia has been focused promoting inclusive economic growth. The Minister of Economy is the Governor and the Deputy Minister of Economy is the Alternate Governor in the Board of Governors of the ADB on behalf of the Republic of Armenia. Representatives of the CBA take part in ADB meetings. At present, Armenia holds 31,671 shares in the ADB's equity capital or 0.3 percent of total shares. Armenia’s voting power in the ADB’s is 71275 votes, or 0.54 percent of total.

EDB   www.eabr.org


The Eurasian Development Bank Armenia became a full-fledged member of EDB in April 2009. It considers transportation infrastructure, electric power industry, agriculture and financial markets development to be priority lines of the Bank’s activities. Improvements in these sectors will promote sustainable economic growth of Armenia’s economy and allow expand trade relations with other Bank’s members.

 
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