ArmInfo. The European Bank for Reconstruction and Development (EBRD) is a strategic partner of Armenia, with which efficient cooperation continues to deepen. Deputy Prime Minister of the Republic of Armenia Tigran Avinyan announced this during a meeting with Managing Director of the EBRD for Eastern Europe and the Caucasus countries Matteo Patrone.
According to the press service of the office of the Deputy Prime Minister, Avinyan stressed the importance of cooperation with the Bank in such areas as infrastructure development, the energy sector, the establishment of financial markets and programs that promote SMEs. In turn, Patrone noted that within a few months, as a result of a diagnostic study and through an active dialogue with the authorities, a 5-year strategy of the Bank's cooperation with Armenia will be developed. He added that the strategy would be in tune with the new government program.
In this vein, Avinyan said that the government program will be published and presented tomorrow for consideration by the deputies. The Deputy Prime Minister noted that the program is based on an inclusive model of economic growth, improving competitiveness and supporting exports.
According to the source, the parties also condemned a number of issues related to the promotion of foreign direct investment, cooperation in the form of public-private partnerships, the development of the capital market, etc.
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.