Newly appointed Executive Director of All-Armenian Bank Vahram Nersesyants said that the bank has been established to stimulate export of goods produced in Armenia, securing their high competitiveness in international markets.

The bank will not enter the field of commercial banks activity, but will allocate loans and make investments in long-term projects aimed at Armenia’s development, Nersesyants told a briefing on December 9.

Vahram Nersesyants noted that the bank’s authorized capital will total $100mln, of which $20mln will be allocated by the government, while the rest sum will be attracted from international structures and private sector. He added that the bank activity should be correct and transparent to prevent interference of political and other forces, what will allow the Bank to achieve success.

Information technologies, healthcare, education and tourism will be priority directions of the bank activity.