EDB: We are very cautious about Amulsar gold mine project

The Amulsar gold mine project is extremely important for the Armenian economy, but the Eurasian Development Bank (EDB) is very careful and cautious about it, Denis Ilyin, EDB Senior Managing Director, told Alpha News when asked about the bank’s participation in the project.

“We are not in a hurry. To make a final decision on participation in the project, we need to conduct examinations, but we also need an environmental plan. We need to preserve the national park that is located there, get all the economic benefits from the project that the government and local residents expect, and at the same time preserve the ecological condition that exists in the area as much as possible.

We are currently in the process of drafting this environmental plan. If it is accepted and confirmed, and if it suits us, then the final decision on joining the project will already be made. I hope we will complete the plan and present it by the end of the year.

After agreeing with the client, the environmental plan will be presented separately to local communities and the Armenian public to show how this will be implemented in practice before all this starts to be done on the spot”, Ilyin concluded.