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On May 13, the NA Standing Committee on Financial-Credit and Budgetary Affairs debated and endorsed the draft law on Ratifying the Resolution No. 259, which proposes Amendment to Article 1 of the Agreement Establishing the European Bank for Reconstruction and Development to enable a Limited and Incremental Expansion of the Geographic Scope of the Bank’s Operations to Sub-Saharan Africa and Iraq.

The RA Deputy Minister of Finance Eduard Hakobyan said that the draft envisages a limited and incremental expansion to Sub-Saharan Africa and Iraq.

The Resolution was adopted by the board of the Governors of the bank on May 18, 2023. It implies the expansion of the activities of the European Bank for Reconstruction and Development to several countries. According to the information of the Deputy Minister, there are no provisions for financial obligations for the Republic of Armenia in the draft.

The debate of the draft law on Ratifying the Agreement on the Asian Infrastructure Investment Bank has been postponed for up to two months.