Armenia in Yokohama discussed cooperation issues with Asian Development Bank

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.