ArmInfo. The cooperation of Armenia with the Asian Development Bank (ADB) is complex and multifaceted. This was announced on December 10 by Deputy Prime Minister Mher Grigoryan during a meeting with the newly appointed director of the ADB Armenian office Paulo Spantigati.
According to the press service of the Government of Armenia, during the meeting Mher Grigoryan emphasized joint programs aimed at developing the capital market and public-private partnership. Expressing gratitude to the Deputy Prime Minister for constructive cooperation, Paulo Spantigati presented the new five-year partnership strategy of ADB with Armenia, approved in November this year. He mentioned the main directions of the strategy and possible directions of future ADB projects in Armenia. The interlocutors emphasized the importance of implementing infrastructure projects, developing human capital and other programs.
Recall that at the end of November, the Asian Development Bank approved a new 5-year partnership strategy for Armenia, aimed at increasing economic diversification and ensuring access for all Armenians to economic growth. According to the ADB Armenian office, the Bank will ensure stability of investments in the road network and accelerate the implementation of ongoing transport programs, including the investment program of the North-South road corridor. In the energy sector, ADB will help improve infrastructure by encouraging greater use of solar and wind energy. This will help diversify the energy structure of Armenia and reduce the country's dependence on gas imports. To foster regional cooperation and integration, ADB will provide financial resources and knowledge to help develop economic corridors and improve border infrastructures. A new economic corridor will be created in the Western Caucasus, the purpose of which is to help Armenia make the best use of its strategic position as the preferred link between the Eurasian Economic Union (of which it is a member) and the West - the European Union. ADB's strategy outlines sustained support for government investment in technology and innovation ecosystems through partnerships between government, academia, and industry. ADB has been working with the Armenian government since 2005, allocating 31 loans for the indicated period in the amount of $ 1.46 billion, including 11 loans for the private sector. ADB also provided technical support grants in the amount of $ 14.9 million. As of June 30, 2019, ADB's active portfolio amounted to 13 loans for the public and private sectors, the total amount of which is $ 809.8 million