ArmInfo. In the period from 4 to 6 May, in Japanese city of Yokohama, the 50th meeting of the Board of Governors of the Asian Development Bank (ADB) was held in which Armenian Deputy Prime Minister, Minister for Economic Integration and Reforms Vache Gabrielyan, Deputy Minister of Finance of Armenia Armen Harutyunyan, adviser to the Minister for Economic Integration and Reforms of Armenia Rafael Avetisyan participated.
As the Armenian Governmental press service told ArmInfo, during the conference the issues of cooperation were discussed with the ADB, a number of bilateral meeting were held.
To note, under ADB's country partnership strategy, 2014-2018, Armenia will receive about $500 million financial assistance to develop infrastructures, energy and social services that will ensure flexible, comprehensive and sustainable development of the country. In the transport sector, ADB will continue to support improving the north-south road corridor, and promoting transport links between and within secondary towns, especially those with the highest poverty rates. To promote regional cooperation and integration, ADB will coordinate with Georgia to help improve roads linking Armenia and Georgia. ADB will support urban development in towns with the highest poverty rates by helping local governments prepare integrated urban development plans, and financing modernization of infrastructures, including in water supply, urban roads, and solid waste management. Armenia's aging electricity infrastructure and heavy dependence on imported fuels affect its energy security. ADB will help addressing this issue by supporting the development of renewable energy resources and helping to rehabilitate and upgrade energy infrastructure. Armenia joined ADB in 2005. ADB, based in Manila, is dedicated to reducing poverty in Asia and the Pacific through inclusive economic growth, environmentally sustainable growth, and regional integration.