Gegham Gevorgyan: The strategy of the agricultural sector will be  aimed at the development of efficient, technological and innovative  agriculture

ArmInfo.A framework of agricultural policy is being developed currently, which will serve as the basis for a long-term strategy aimed at developing an efficient,  based on new technologies and innovative agriculture. The Acting  Minister of Agriculture of Armenia Gegham Gevorgyan said this during  a meeting with the Head of the European Bank for Reconstruction and  Development (EBRD) Office in Armenia Dimitri Gvindadze.

As reported by the press service of the Ministry of Agriculture,  during the meeting the parties discussed priorities, the EBRD  strategy in Armenia and the programs scheduled for implementation in  2018-2019. In particular, Gegham Gevorgyan attached importance to  cooperation with the EBRD, emphasizing the need for its expansion.  "Cooperation with the EBRD has its unique place in the policy of  agricultural development in Armenia, and I think that our cooperation  will cover a wider range of implementation of joint programs that we  have established," he said.

In turn, Dmitri Gvindadze attached great importance to the need to  stimulate cooperation in the field of agriculture, given the role of  the sector in the Armenian economy. The representative of the EBRD  presented the current loan portfolio of the bank, the main areas of  cooperation, the applicable financial instruments and a number of  envisaged programs, stressing the possibility of more effectively  realizing the existing potential, in particular by financing private  investment programs.

According to the source, the parties also exchanged views on  attracting foreign investment, developing small and medium  agribusiness, implementing projects in the format of cooperation  between the public and private sectors, encouraging competition, as  well as a number of other issues of mutual interest.  To recall, the  EBRD is an institutional investor in Armenia. Since the start of EBRD  activities in Armenia, namely, from 1992 to this day, over 1.13  billion euros have been invested in the implementation of 157  programs in the financial, corporate, infrastructure, energy sectors.  Moreover, 88% of these investments were directed to the development  of private entrepreneurship.  According to the RA Statistics  Committee, in January-August of this year gross output of agriculture  in Armenia amounted to 485.6 billion drams with an annual decline of  0.9%, of which 96.5% (464.6 billion drams) accounted for only  agriculture, with a decline of 1% per annum.