More European Investment?

ITAR-TASS has this report about the The European Bank for Reconstruction and Development (EBRD) planning more investment in the "the seven poorest CIS nations", including Armenia.

more tan 50 percent of people in Armenia, Azerbaijan, Georgia, Kyrgyzstan, Moldova, Tajikistan and Uzbekistan live in poverty. The economy of these countries is less consistent with market standards than the economy of other countries. A large state debt complicates foreign borrowing for economic development and social needs. Other obstacles to borrowing are underdeveloped markets, the closed borders, lack of banking and other services, insufficient infrastructures in these countries.

Read the full article.

Posted by Matt on April 20, 2004 | TrackBack | Email to a friend