Annual Report 2019

84 CENTRAL BANK OF ARMENIA result of effective cooperation between the Central Bank and KfW Bank, 3 new loan agreements worth EUR 60 million were signed in December 2019. The loan resources are intended to be channeled to agriculture, housing and renewable energy sectors. During the year, cooperation with Black Sea Trade and Development Bank, European Bank for Reconstruction and Development and other international partner organizations continued; mutual visits were part of the cooperation. In 2019 representatives of Moody's and Fitch Ratings, international rating agencies, arrived in Armenia on a regular visit. The visit was coordinated by the Central Bank. As a result, Moody's has raised Armenia's sovereign rating from B 1 to Ba 3, while changing the outlook for the country from 'stable' to 'positive'. The Central Bank continued collaboration with international organizations and institutions in developing international standards in the field of AML/CFT and evaluating the implementation of those. standards, including cooperation with the Council of Europe's MONEYVAL Committee, the Egmont Group, the Parties to the Warsaw Convention, the Eurasian Group, and the Board of Directors of CIS Financial Intelligence Units. In 2019, as part of cooperation with foreign financial intelligence units, most requests were sent to the FIUs of the United States, Latvia, Austria, Estonia, Switzerland, Russia, the Czech Republic, the United Kingdom, the Virgin Islands and received from the FIUS of Russia, Latvia, France, Malta, Czech Republic, Netherlands, Liechtenstein. In the context of strengthening international cooperation, in 2019 the Central Bank hosted dozens of regional and international symposiums, conferences, seminars, workshops, forums, etc. in its Yerevan Head Office and Dilijan Training and Research Center. In particular: The Dilijan TRC, together with the Office of the President of the Republic of Armenia, hosted high-ranking guests to the "Armenian Summit of Minds" in Dilijan. The Dilijan TRC, together with the RA Ministry of Economy, hosted participants of the Armenian-Georgian intergovernmental commission and business forum on banking and economic issues in Dilijan. ANNUAL REPORT 2019

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