EBRD Vice-President expressed readiness to implement investment projects in the areas of priority for Armenia

ArmInfo. Armenian Prime Minister Karen Karapetyan received a delegation of the European Bank for Reconstruction and Development led by Vice President Alain Pilloux on November 30. The Head of Government highly appreciated the 25-year effective cooperation of Armenia with the EBRD, noting that the Bank is a key partner for Republic of Armenia.

According to the press service of the Armenian government, according to the prime minister, it is extremely important that most of the joint programs with the EBRD are aimed at stimulating the competitiveness of the private sector in various spheres of the country's economy. This logic, Karen Karapetyan noted, is also supported by the current cooperation strategy for 2015-2019.

The Head of Government thanked for assistance in developing the concept of public-private partnership and the legislative package in this direction, as well as for providing technical assistance to Armenia in a number of spheres. Confirming the readiness for further productive cooperation, Karen Karapetyan noted the importance of continuous implementation of investment projects and development programs aimed at strengthening cooperation between the state and the private sector.

Alain Pilloux noted that the cooperation with Armenia is at a high level, while adding that they are successfully working with the Center for Strategic Initiatives of the Republic of Armenia. According to him, the EBRD is interested in expanding cooperation with Armenia.

The interlocutors touched upon the issues concerning current and forthcoming programs. The Prime Minister of Armenia proposed to consider the possibilities of cooperation in the areas of IT, energy, agriculture, light industry, tourism, jewelry, pharmaceuticals, taking into account their enormous potential.

The EBRD Vice-President expressed readiness to implement investment projects in the priority areas for the Armenian government, as well as to continue assisting the economic growth of the Republic of Armenia. An exchange of views took place towards implementing steps aimed at a lasting improvement of the investment climate and business environment in Armenia. Alain Pilloux informed the prime minister that the candidacy of the new director of the Armenian Office of the EBRD had been approved, and in January 2018 the new head of the Office will start fulfilling his official duties.

The EBRD being an institutional investor in Armenia has invested more than 1.1 billion EUR in implementation of 158 programs in the financial, corporate, infrastructure, energy sectors since the start of activity since 1992 to this day. Moreover, 88% of these investments were directed to the development of private entrepreneurship.