ArmInfo. Armenian Finance Minister Atom Janjughazyan, at a meeting with the delegation of the Asian Development Bank (ADB), led by Vice President Shixin Chen, assured that the fiscal rules in force in the republic allow not only to manage risks in this area, but also to stimulate economic growth in country.
According to the press service of the Armenian Ministry of Finance, during the meeting the parties touched upon two main areas of cooperation between the ADB and the Ministry of Finance of the Republic of Armenia - programs of budget assistance and targeted loans, as well as effective management of state finances. The interlocutors touched upon issues related to the policy of stabilization of public debt and the development of infrastructures.
The head of the Ministry of Finance highly appreciated the role of ADB in ensuring the economic stability of Armenia and the implementation of the government reform program.
Shixin Chen, in his turn, noted that the state of the fiscal sphere of Armenia looks impressive. He confirmed the readiness of ADB to support the reform program of the Republic of Armenia. The representative of ADB expressed the hope that the cooperation of Armenia with the Bank will become an example for other countries.
Armenia joined ADB in 2005 and is in the group of countries with mixed (concessional and conventional) financing. ADB is addressing poverty reduction in the Asia-Pacific region through stimulating economic growth and regional integration. In the field of transport, ADB continues to assist Armenia in the construction of the North-South transport corridor, as well as in strengthening transport links between cities with high levels of poverty. According to statistics on the bank's website, at the end of 2017, ABR implemented 52 projects in Armenia totaling $ 1.32 billion, of which $ 635 million were directed to the development of transport infrastructure, $ 172 million to city infrastructure and water supply, $ 152 million to finance, $ 142 million - in the energy sector, $ 140 million in the sphere of administrative management.