Friday, January 26 2018 14:02
Alina Hovhannisyan

ADB is interested in implementing larger programs in Armenia

ADB is interested in implementing larger programs in Armenia

ArmInfo."Successful results  of our work in Armenia make it possible to talk about the possibility  of implementing larger programs covering new spheres of the economy,"  President of the Asian Development Bank (ADB) Takeshiko Nakao said at  a meeting with the Armenian Prime Minister Karen Karapetyan on the  margins of the International Economic Forum in Baku.  Davos. 

According to the press service of the RA government, during the  meeting the parties discussed a number of programs implemented by the  bank in Armenia, including in the field of infrastructure development  - transport, road construction, seismic safety, etc. K. Karapetyan  presented to the President of the Bank positive economic results of  Armenia on the results of the past year and assured that the  government will continue the line on implementing reforms. At the  same time, the prime minister invited T. Nakao to visit Armenia. 

According to the source, an agreement was reached on the visit of ADB  President in the first half of 2018.  It should be noted that on  October 25, 2017, the Board of Directors of the Asian Development  Bank approved granting Armenia a loan of $ 40 million, which is aimed  at facilitating consistent efforts of the government to strengthen  macroeconomic stability and development of financial markets in the  country. In total, according to the strategy for 2014-2018. ADB plans  to provide financial assistance to Armenia in the amount of about $  500 million. The funds will be used to support infrastructures,  energy and social services to promote the country's flexible,  comprehensive and stable development.

To recall, the Asian Development Bank was founded in Manila in 1966  to fight poverty, ensure economic growth and sustainable development  through regional integration in Asia and the Pacific. Today the bank  has 67 member countries, including 48 from the region. As of 2016,  ADB support amounted to $ 31.7 billion, of which $ 14 billion was  co-financing.

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