ArmInfo. During 2019, the European Bank for Reconstruction and Development (EBRD) will develop a strategy for large-scale activities in Armenia. The coordinating director of EBRD Eastern Europe and the Caucasus countries Matteo Patrone stated this during a meeting with the Minister of Finance of the Republic of Armenia Atom Janjughazyan.
He explained that the main focus of the Bank's activities in the framework of the new strategy will be on the development of the private sector, in particular, in the sector of SMEs, renewable energy, in the field of energy efficiency, etc. Regarding work in the public sector, it was stressed that the initiatives that are planned to implement in this area will be consonant with the priorities outlined in the program of the Armenian government.
In turn, the Minister of Finance noted that the programs implemented in cooperation with the EBRD, the European Investment Bank and the EU can contribute to the economic development of the country.
To recall, the EBRD is a major international institutional investor. Since the start of EBRD activities in Armenia, namely, since 1992, more than 1.13 billion euros have been invested in the implementation of 157 programs in the financial, corporate, infrastructure and energy sectors. Moreover, 88% of these investments were directed to the development of private entrepreneurship.
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