EBRD to allocate loan of $ 5.5 million to Elite Group

European Bank for Reconstruction and Development and Elite Group, a leading construction company, signed an agreement today over mid-term loan of $ 5.5 million and a grant of 130 thousand euros to be allocated to the company to encourage the novelties implemented in the sphere of energy saving.

EBRD regional manager Paul-Henry Forestier has arrived in Yerevan to sign the agreement. To attend the event were also Armenian PM Tigran Sargsyan, government members, businessmen, journalists.

“The event is of great significance since the European Bank for Reconstruction and Development allocates financial means to a leading company. This is our second meeting of the kind recently, dedicated to the beginning of a new credit program in the Republic of Armenia,” Tigran Sargsyan said.

PM also said that the government has recently passed a resolution to grant the company state guarantee to be allocated financial means.

“The guarantee is provided in the frames of the program aiming at supporting the constructors,” PM said.