Friday, June 23 2017 17:05
Alexandr Avanesov

ADB has financed 25 programs in Armenia for $ 1.190 billion

ArmInfo. On June 23, RA Prime Minister Karen Karapetyan received the delegation of the Asian Development Bank (ADB), chaired by the Director General of the ADB Department for Central and Western Asia Sean O'Sullivan.

According to the press service of the government, the prime minister noted the impressive cooperation with ADB. He noted that as a result of this cooperation over the past few years, 25 programs have been implemented in Armenia for a total of $ 1.190 billion. Karen Karapetyan stressed that the Armenian government is interested in cooperation with ADB in such areas as energy, capital market development, and road construction. In addition, the executive body welcomes the Bank's intention to intensify programs with the private sector. "We want to change many things, and are open to cooperation with the Asian Development Bank," the head of the Armenian government said.

In his turn, Sean O'Sullivan expressed his satisfaction with the implementation of various programs to improve the infrastructure. He noted that at the moment ADB is working towards implementing new projects in Armenia. According to him, the Bank is ready for cooperation on new programs, including improvement of the country's educational system, digitalization of the management system, etc.

To note, according to the strategy for 2014-2018 ADB plans to provide Armenia with financial assistance of about $ 500 million. The funds are directed to support infrastructures, energy and social services to promote a flexible, comprehensive and stable development of the country. In the field of transport, ADB will continue to assist in the construction of the North-South transport corridor, as well as in strengthening transport links between cities with high poverty levels. For regional cooperation and integration of the country, ADB will provide support for the development of roads connecting Armenia with neighboring Georgia. In addition, ADB will assist in the sustainable development of cities with a high level of poverty, helping local governments to develop coordinated plans and providing the investments needed to modernize infrastructures, including water supply, and the management of urban roads and solid waste. The worn-out electric power infrastructure of Armenia and the strong dependence on imported mineral fuel weaken the energy security of the country. ADB will assist in solving this problem by supporting the development of renewable energy sources, as well as the restoration and modernization of energy infrastructures.

Armenia joined ADB in 2005 and is included in the group of countries with mixed (preferential and usual) financing. ADB deals with poverty reduction in the Asia-Pacific region by stimulating economic growth and regional integration.

POST A COMMENT
Input digits     


News
Initial public offering of Team Telecom Armenia startedInitial public offering of Team Telecom Armenia started
UNECE Secretary: Armenia has high potential in high technologies and  innovationsUNECE Secretary: Armenia has high potential in high technologies and  innovations
To attract investors to industrial sector  of Armenia, it is necessary to show that country has sufficient  capacities, only  large-capacity unit can cope with this taskTo attract investors to industrial sector  of Armenia, it is necessary to show that country has sufficient  capacities, only  large-capacity unit can cope with this task
Interdepartmental working group to be established in Armenia to  discuss construction on new nuclear unit issues Interdepartmental working group to be established in Armenia to  discuss construction on new nuclear unit issues 
Governor of Gegharkunik: Sotk Gold Mine has ceased operations Governor of Gegharkunik: Sotk Gold Mine has ceased operations 
Metallurgical works to be constructed in Yeraskh to produce ferrous  metal, pipes, fittingsMetallurgical works to be constructed in Yeraskh to produce ferrous  metal, pipes, fittings
Ozon to enter Armenia`s market this autumnOzon to enter Armenia`s market this autumn
Armenia`s government discusses relaunch of Amulsar project Armenia`s government discusses relaunch of Amulsar project 
Konstantin Vladimirovich Tserazov: “In September, we expect a systematic recovery of indices”Konstantin Vladimirovich Tserazov: “In September, we expect a systematic recovery of indices”
Konstantin Tserazov: “The Russian stock market has enough reasons for optimism”Konstantin Tserazov: “The Russian stock market has enough reasons for optimism”
FLYONE ARMENIA airline sets itself the task of transferring 1  million passengers in 2023FLYONE ARMENIA airline sets itself the task of transferring 1  million passengers in 2023
Armenian expert on risks of further domestic debt growth Armenian expert on risks of further domestic debt growth 
Team Telecom Armenia is undertaking its initial public offering (IPO) Team Telecom Armenia is undertaking its initial public offering (IPO) 
Groundbreaking ceremony of new Meghri checkpoint took place todayGroundbreaking ceremony of new Meghri checkpoint took place today
By end of 2023, Armenia to register 2nd largest economic growth and  lowest inflation rate among EAEU countries. But risks still remain -  EDBBy end of 2023, Armenia to register 2nd largest economic growth and  lowest inflation rate among EAEU countries. But risks still remain -  EDB
Vahan Kerobyan: Armenia may become an operator in Iranian port of  ChabaharVahan Kerobyan: Armenia may become an operator in Iranian port of  Chabahar
Tax collections overfulfilled by almost 20% - State Revenue Committee  of ArmeniaTax collections overfulfilled by almost 20% - State Revenue Committee  of Armenia
Money transfers actively flowing to Armenia from Russia are no less  actively flowing  to U.S.Money transfers actively flowing to Armenia from Russia are no less  actively flowing  to U.S.
Armenia`s economy minister meets with SME Cooperation Association  repsArmenia`s economy minister meets with SME Cooperation Association  reps
Converse Bank to present Converse Leasing product at Leasing Expo  2023 exhibition Converse Bank to present Converse Leasing product at Leasing Expo  2023 exhibition 
IDBank`s Visa Business Platinum card now with more profitable termsIDBank`s Visa Business Platinum card now with more profitable terms
Armenia, Georgia discuss joint investment projectsArmenia, Georgia discuss joint investment projects
Armswissbank issues 3 bonds from 1st of juneArmswissbank issues 3 bonds from 1st of june
Ministry of Territorial Administration and Infrastructures believes  that regular flights at Kapan airport to be launched this yearMinistry of Territorial Administration and Infrastructures believes  that regular flights at Kapan airport to be launched this year
FLYONE ARMENIA launches  Yerevan-Tehran-Yerevan direct flightsFLYONE ARMENIA launches  Yerevan-Tehran-Yerevan direct flights
Decline in sales volumes in duty-free stores forced government to  ease tight restrictions on cash transactionsDecline in sales volumes in duty-free stores forced government to  ease tight restrictions on cash transactions
Vahan Kerobyan: feasibility study of Dry Port project is being  carried out by Dutch company; results to be ready in a few monthsVahan Kerobyan: feasibility study of Dry Port project is being  carried out by Dutch company; results to be ready in a few months
PSRC: there are opportunities in Armenia for construction of solar  power plants with a total installed capacity of up to 1 thousand  megawatts, but...PSRC: there are opportunities in Armenia for construction of solar  power plants with a total installed capacity of up to 1 thousand  megawatts, but...
Minister: domestic and international tourism indicators equalized in  ArmeniaMinister: domestic and international tourism indicators equalized in  Armenia
Pashinyan: Since July 1, 2023, RA citizens` pensions to be increased  once againPashinyan: Since July 1, 2023, RA citizens` pensions to be increased  once again
Growth of budget revenues conditioned by three main factors: economic  growth indicators, shadow reduction, implemented reforms - PashinyanGrowth of budget revenues conditioned by three main factors: economic  growth indicators, shadow reduction, implemented reforms - Pashinyan
AraratBank underwrites FINCA UCO bondsAraratBank underwrites FINCA UCO bonds
Team NGN`s 25Gbps network is already available to 150,000 households  in ArmeniaTeam NGN`s 25Gbps network is already available to 150,000 households  in Armenia
Pashinyan: Armenia considers it important to form collective food  security system in EAEUPashinyan: Armenia considers it important to form collective food  security system in EAEU
Trade, services and construction continue to be main drivers of  double-digit growth in economic activity in ArmeniaTrade, services and construction continue to be main drivers of  double-digit growth in economic activity in Armenia
Armenian investment crowdfunding platform ARFI and ANIF to be  presented at Orion 2023 Summit in New YorkArmenian investment crowdfunding platform ARFI and ANIF to be  presented at Orion 2023 Summit in New York
Transavia Airlines to start Marseille-Yerevan-Marseille operating  flightsTransavia Airlines to start Marseille-Yerevan-Marseille operating  flights
Georgia refutes information about launch of shipment to NovorossiyskGeorgia refutes information about launch of shipment to Novorossiysk
Batumi-Novorossiysk ferry service put into operation Batumi-Novorossiysk ferry service put into operation 
Plant producing aluminum radiators to be put into operation in  ArmeniaPlant producing aluminum radiators to be put into operation in  Armenia
Vahan Kerobyan on Vahan Kerobyan on "impressive" indicators of FDI in Armenian economy
Yerevan brandy company could stop exports to RussiaYerevan brandy company could stop exports to Russia
Kaps reservoir construction project resumed in Armenia Kaps reservoir construction project resumed in Armenia 
CMTPL E-polices sales stalled pending more visible discounts as part  of tariff liberalization CMTPL E-polices sales stalled pending more visible discounts as part  of tariff liberalization 
ANIF to invest EUR 3.9mln in Universal Closures company ANIF to invest EUR 3.9mln in Universal Closures company 
Germany to assist Armenia in strengthening local government systemGermany to assist Armenia in strengthening local government system
Fix Price announces entry into Armenia`s marketFix Price announces entry into Armenia`s market
Presentation of ROBBO company held in Armenia Presentation of ROBBO company held in Armenia 
EBRD improves its GDP growth forecast for Armenia EBRD improves its GDP growth forecast for Armenia 
FLYONE ARMENIA started operating flights on the route Yerevan-Larnaca-YerevanFLYONE ARMENIA started operating flights on the route Yerevan-Larnaca-Yerevan
Armenian Diaspora of United States is ready to invest in  technological development of ArmeniaArmenian Diaspora of United States is ready to invest in  technological development of Armenia
CBA Forecast: Inflation in Armenia to reach target level of 4% from  H2 2023CBA Forecast: Inflation in Armenia to reach target level of 4% from  H2 2023
Foreigners` transactions on buying and selling property  reduced in  ArmeniaForeigners` transactions on buying and selling property  reduced in  Armenia
In Yerevan, real estate market activity is declining, but prices  continue to riseIn Yerevan, real estate market activity is declining, but prices  continue to rise
RA citizens` perception of EU has changed dramatically. Pashinyan The  reputation of the European Union has significantly improved after the  Union decided to send an observation mission to Armenia RA citizens` perception of EU has changed dramatically. Pashinyan The  reputation of the European Union has significantly improved after the  Union decided to send an observation mission to Armenia 
German investments for the sake of Armenia`s sustainable developmentGerman investments for the sake of Armenia`s sustainable development
Bright future for solar energy in Armenia - Expert on measures to  ensure sustainable development and true independence of  energy  sectorBright future for solar energy in Armenia - Expert on measures to  ensure sustainable development and true independence of  energy  sector
EDB discusses and implements number of energy projects in Armenia -  Head of BankEDB discusses and implements number of energy projects in Armenia -  Head of Bank
EDB is ready to support Amulsar mine development project - PodguzovEDB is ready to support Amulsar mine development project - Podguzov
Armenian-Czech business forum held in Prague Armenian-Czech business forum held in Prague 
Read more


Exchange rates
07.06.2023
RUB4.75-0.02
USD386.75-0.29
EUR414.330.20
GBP481.500.95
CAD288.960.60
JPY27.75-0.01
CNY54.32-0.14
CHF427.020.44