Armenia became the third co-founder of the Eurasian Development Bank.

Armenia became the third party to the Eurasian Development Bank (EDB), which is now owned by only Russia and Kazakhstan. That was reported by Interfax. " Contribution from Armenia to the Bank amounted to 100 thousand dollars.
Previously, it was reported that Russia and Kazakhstan are willing to share part of the Bank of Belarus, Tajikistan and Armenia. It was assumed that all these countries will co-EDB in 2010.
In accordance with the constituent documents of foreign states may become parties to EDB by purchasing shares of the Bank during the additional issue.
Previously, the charter capital of EDB, fully paid-founders of the bank - Russia and the Republic of Kazakhstan, was 1.5 billion dollars. Was planned as a result of repurchase additional issue it will be increased by 15.6 million dollars from contributions of Tajikistan, Belarus and Armenia.
Eurasian Development Bank was established in early 2006 for the development of market economy countries that are its co-sponsors. In addition, the Bank should help increase trade and economic ties between them. The authorized capital of EDB is one and a half billion dollars. It was expected that by 2010, the bank's equity capital will increase to 1.7 billion dollars.
Previously, Russia had allocated Yerevan stabilization loan for 500 million dollars, and the International Monetary Fund (IMF) has granted a loan for 540 million dollars. These funds are Armenian Central Bank uses to replenish foreign exchange reserves of the country.
Economy of Armenia has suffered because of the crisis. In the first months of 2009, falling industrial production in Armenia amounted to 9.7 per cent, but the country's lowest inflation in the CIS countries - 2.5 per cent.